Award Winning Liquidation Service
Members' Voluntary Liquidation (solvent)
- Tax advantages
- Payment after 35 days
- Not tax avoidance
Creditors' Voluntary Liquidation (insolvent)
- Basic liquidation
- No assets
- No employees
- Up to 10 creditors
Complex cases are priced on a case-by-case basis
Depending upon the total value of assets in your company, using a Members’ Voluntary Liquidation (a solvent liquidation) could be the most tax efficient way to close your solvent company.
This is because the funds to be distributed are subject to Capital Gains Tax, rather than Income Tax. Also, if you qualify for Entrepreneurs’ Relief (as most of our clients do) you can benefit from a 10% marginal rate on distributions.
In determining whether an MVL would be right for a particular situation, we would leave the tax calculations to your Accountant. Where it is deemed that an MVL is the best solution, an Insolvency Practitioner (like us) must (by law) be used.
We aim to distribute the assets of the company after 35 days from the date of Liquidation.
Our fee for an MVL is just £995 (+VAT +disbursements)
If your company is insolvent (i.e. it cannot pay all of its bills) a Creditors’ Voluntary Liquidation (CVL) is likely to be the best option to deal with your company’s debts and fulfil all of your legal obligations.
A director can propose a CVL if:
• their company can’t pay its debts – i.e. it is ‘insolvent’
• the shareholders agree and pass a ‘winding-up resolution’.
If a company does go into CVL, it means it will stop trading and be liquidated – i.e. ‘wound up’.
A CVL acknowledges your duties as a director to your creditors.
Our fee for a CVL is from just £1,995 (including VAT and disbursements)