Members Voluntary Liquidation (MVL)
An MVL is a solvent liquidation and enables shareholders who may be looking to retire or exit the business, to withdraw their capital in the most tax efficient manner.
To learn more about this process, contact one of our experienced team members today.
What is an MVL?
An MVL is a cost and tax-effective solution to close your solvent business and is suitable for those businesses:
- That can pay their liabilities in full within 12 months
- Have distributable reserves of £25,000 or more
The first step in obtaining an MVL is to make a statutory declaration of solvency. This confirms the company can pay off its liabilities within a period not exceeding 12 months. Once the declaration has been sworn a shareholder meeting will be held at which point resolutions to wind up the company and appoint a Liquidator will be passed.
Is Members Voluntary Liquidation tax efficient?
An MVL is a preferred method of liquidation for many directors as it means that money can be distributed among shareholders as capital gains rather than income. This means that those involved will be charged at a much lower rate than income tax.
If part of your company assets include land, property or other forms of possessions that may not be easily converted into money, then it’s important to consider getting all your affairs in order before you apply for a MVL. This includes obtaining an independent valuation.
Get a Members Voluntary Liquidation with Restart BTi
Here at Restart BTi, our experienced team works with you to make sure that you are given the right advice and that liquidation is the correct process for the Company. We endeavour to ensure that the procedure is concluded as quickly and as pain free as possible.
We offer a competitive fixed fee pricing structure dependent upon the circumstances of the case.
We offer a service that includes a free initial consultation, expert guidance and support, confidentiality, and a fully licensed practitioner that will support and stay with you throughout the full process. To get in contact and receive your free consultation, simply fill out the short form below.
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Restart BTi
Suite 42 Dunston House
Dunston Road
Chesterfield
Derbyshire
S41 9QD
- 01246 959 388
- Fax: 03333 444 993
- Email: enquiries@restartbti.co.uk
Restart BTi is the trading name of Restart Business Turnaround Insolvency Limited, a limited company registered in England and Wales no: 11517419
Registered Office: Suite 42 Dunston House, Dunston Road, Chesterfield S41 9QD
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