Members’ Voluntary Liquidation (or called “MVL”) is a procedure where a company with net assets over £25,000 is put into liquidation.
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 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.
Click on the following articles to find out more about the different members voluntary liquidation (MVL) options available to businesses.