The Answer It is very safe. We bank with Arbuthnot Latham who are an established UK private bank. All client funds are held in separate client accounts. One for each case. Funds are not mixed. You are welcome to contact them direct to confirm this. We are Licensed Insolvency Practitioners Licensed by the Institute of […]
The quick answer A Members’ Voluntary Liquidation (or “MVL”) is an efficient way for solvent companies to turn reserves into capital gain and pay just 10% tax. Shareholders who own more than 5% of the ordinary share capital of a company can usually claim Business Asset Disposal Relief. This means you pay Capital Gains Tax […]
The quick answer To qualify for a tax efficient Members’ Voluntary Liquidation you must; own over 5% of the shares. have worked in the business as an employee or director. owned the shares for two years. the company traded. it must have traded within the last three years. In more detail There are a […]
The quick answer There are three costs associated with a Members’ Voluntary Liquidation (or shortened to an “MVL”); the liquidator’s fee, a bond and the statutory advert placed in the London Gazette. Liquidators can agree to fix these fees and costs. The exact cost depends on the financial situation of the business, as well as […]
The quick answer A Members’ Voluntary Liquidation (or “MVL”) is a procedure where a company with net assets over £25,000 is put into liquidation. The money paid out to shareholders counts as capital gains and not income – which means the funds left in the company are taxed at a lower rate. In more detail […]
Members Voluntary Liquidation (MVL) is a voluntary procedure where a company with net assets over £25,000 is put into liquidation. We usually charge fixed fees for this work.