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We're Licensed Insolvency Practitioners

Closing a solvent company (i.e. one which has no debts) may seem like a simple process. However, before doing so you should seek advice from your Accountant and/or a Licensed Insolvency Practitioner to make sure that you choose the best way to close your company.

Clarke Bell have been trading for more than 25 years. We have helped thousands of directors close down their solvent company successfully with the Members’ Voluntary Liquidation (MVL) process.

Reasons for closing your solvent company

There are several reasons why you might be considering closing down your solvent company, including:

Retirement

For most freelancers / contractors, you are the business. So when you are ready to retire, you are unlikely to be able to sell your company. Instead, you will be looking for the best way to close the company down and extract your company’s assets in the most effective way.

Shareholder dispute

Shareholder disputes can crop up for a number of reasons, perhaps related to disagreements about the management or direction of the company. The situation might mean that it is no longer viable to continue running the company, so you will want to close it down.

Becoming an employee

Some directors of a company / contractors want to go into an employee / PAYE role – particularly with the introduction of the new IR35 rules. In these instances, the directors will no longer need their company.

Wanting to start a new business

You might be looking for a new business venture. If you want to start a new business, you might need to close your existing company and extract the money to finance your new company.

Closing your solvent company with a Members' Voluntary Liquidation (MVL)

There are different ways to close a solvent company. However, if the assets of the company are over £25,000 then the best option is likely to be a Members’ Voluntary Liquidation (MVL).

In an MVL the distributions to the shareholders are subject to capital gains tax rather than income tax. If you are eligible for Entrepreneurs’ Relief, you can benefit from a 10% marginal rate on distributions. This all means that there are massive tax savings to be gained from closing a solvent company with an MVL.

MVLs are encouraged and approved by HMRC; and only Insolvency Practitioners are legally allowed to place a company in liquidation. 

At Clarke Bell, we have a wealth of experience in MVLs. We have put more than 2,000 companies through the process, and distributed assets of over £300 million.

For more information about our ‘£995 MVL service’, contact us on 0161 907 4044 or [email protected]

More information

Members' Voluntary Liquidation
Entrepreneurs Relief

I am very impressed with the professional and efficient approach adopted by Clarke Bell and Katie Dixon in particular.

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 yourself and your very professional company.

I must say a special thank-you to Katie too. She has been excellent throughout and always kept me informed of developments.

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

Wishing you every success for the future.

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