Close Company Inside IR35 | Members Voluntary Liquidation (MVL)

Tax benefits available to you with an MVL

If you’re going to be affected by the IR35 tax reforms coming into affect in April 2020, you may be wondering about the best way to close down your limited company.

Depending upon how much cash there is in your company, using a Members’ Voluntary Liquidation (MVL) could be the most tax-efficient way and save you thousands of pounds. By using an MVL the funds to be distributed are subject to Capital Gains Tax, rather than Income Tax.

If you qualify for Business Asset Disposal Relief / Entrepreneurs’ Relief you can benefit from a 10% marginal rate on distributions. This means there can be considerable tax savings for the director(s) of the company.

We aim to distribute the assets of the company after 35 days from the date of Liquidation.

Our standard cost for a Members’ Voluntary Liquidation is from £995 +VAT, +disbs (see below for the disbursements).

Why Choose Us

Low cost

From £995 +VAT +disbs (at cost)

Tax advantages

For company shareholders

Quick payment

Usually received after 35 days

Credit ratings

Not affected

Insolvency Practitioner

Must be used (even though your company is solvent)

Not Tax Avoidance

Is a legitimate and tax-effective way to wind up a solvent company

Nationwide

No need for face to face meetings

Friendly

Professional Services

For your free advice, call0161 907 4044

We have a wealth of experience in MVLs:

Total number of MVLs:

Total cash distributed (£):

FOR YOUR FREE ADVICE CALL0161 907 4044

The Relevant Disbursements

There are some legal disbursements that have to be paid in a Members’ Voluntary Liquidation.

Clarke Bell charge all of these at cost, and we regularly review them to ensure we are getting the best prices available.

Statutory Adverts

These are to provide any possible creditors the chance to come forward to lodge their claim.

For companies registered in England & Wales

Throughout the course of the MVL we have to take out 3 Statutory Adverts in the London Gazette.

The cost of these is (3 x £75.05 = £225.15 +VAT): £270.18

For companies registered in Scotland

Throughout the course of the MVL we have to take out 4 Statutory Adverts in the Edinburgh Gazette and an additional advert in the Scottish Daily Mail.

The cost of these is (4 x £75.05 = £300.20 +VAT and 1 x £69+VAT): £443.04

For companies registered in Northern Ireland

Throughout the course of the MVL we have to take out 4 Statutory Adverts in the Belfast Gazette.

The cost of these is (4 x £75.05 = £300.20 +VAT): £360.24

Statutory Bond

A compulsory bond needs to be taken out. This provides the directors with security whilst funds are under the control of Clarke Bell. The bond fee is dependent on the assets of the company. (The typical bond fee is between £80 – £240.)

For your free advice, call0161 907 4044

I am very impressed with the professional and efficient approach adopted by Clarke Bell.

Our MVL was handled in a timely manner and I was kept informed of progress throughout.

This is an excellent service which is also very good value for money – I am pleased to recommend Clarke Bell without reservation.

Clarke Bell provided a fast, friendly, professional, efficient and low cost service when we decided it was time to end the life of our company via the MVL route.

The documentation supplied was clear, any questions were answered immediately and there were no hidden costs.

I have absolutely no hesitation in recommending Clarke Bell to any other company director wishing to end the life of their company via the MVL route.

I just wanted to say how impressed I have been with every aspect of the MVL process.

It has been an absolute pleasure to work with your very professional company.

I will have no hesitation in recommending Clarke Bell Limited to any other potential clients.

Wishing you every success for the future.

Dear Mr. Bell, your firm has just completed the liquidation of the above company.

I would like to record the excellent service given by your staff, and the professional and timely manner in which they conducted the liquidation.

I will certainly use the services of your firm for any future liquidations of my clients and would recommend your firm to others needing such services.