Members Voluntary Liquidation
A Members’ Voluntary Liquidation (or called “MVL”) is a procedure where a company with net assets over £25,000 is put into liquidation. Below that level it can be dealt with informally by concession.
A Members’ Voluntary Liquidation is a very tax efficient way of getting money out of a company and is usually done for tax purposes to take advantage of Business Asset Disposal Relief at just 18% tax.
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Business Asset Disposal Relief is the new name for Entrepreneur’s Relief.
The decision to liquidate using an MVL is taken by the directors and then shareholders at a meeting. The creditors are not involved. All creditors must be paid in full within statutory interest at 8% within 12 months of the date of liquidation.
We can put a company into Liquidation within 7 days and pay out the shareholders a few days after that. It can all be done for a fixed fee.
Click on the following articles to find out more about the different members voluntary liquidation (MVL) options available to businesses.
Are Insolvency Payments Taxable?
Do I need to repay my directors loan before liquidation?
How safe is my money in a Members’ Voluntary Liquidation?
Tax Advice For Members Voluntary Liquidations
What Are The Five Key Tax Hurdles Of A Members Voluntary Liquidation?
How Much Does A Members Voluntary Liquidation Cost?
What Is A Members Voluntary Liquidation (MVL)?
David Kirk
Kirks Insolvency
David qualified as a Chartered Accountant in 1990 and Licensed Insolvency Practitioner in 1996. David will give you clear and plain language advice about your business’s options and make a recommendation of which route he thinks will work best for you.
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“Very efficient and cost effective”
I have found Kirks Insolvency to be very reliable in terms of their dealings with us as their customers. They are clear in terms of the process and what it entails and are very prompt when it comes to communications. I would recommend their services.
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Business owner
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