Members’ Voluntary Liquidation (MVL)
If your company is solvent and you’re ready to close it down for retirement, restructuring or a new venture, an MVL could be the best option.
- Award-winning MVL team
- Fixed fees (no hidden costs)
- Pay only 14% tax and save £1000’s
Signs an MVL? might be right for you
A Members’ Voluntary Liquidation is an option for solvent companies who no longer wish to trade. There are many reasons why you might be in a position to close down your solvent company, some of which we have listed below.
An MVL with the Liquidation Centre is a relatively quick and seamless process usually taking around 3-6 months to complete. During this period we will ensure all outstanding debts and related interest are settled, paying off any creditors in full and settling all disputes and legal matters professionally.
Once all payments have been made we will distribute any outstanding funds between you and any other company members. Once your company is closed down you are free to move forward with your life knowing that everything has been taken care of legally and professionally.
Why an MVL might be right for your company...
You wish to retire
You wish to return to employment
Your company has completed the work it was created for
Your company offers a service which is no longer needed or relevant
You are moving abroad
You have cash tied up in your company that you want to release tax efficiently
Once your company is closed down you are free to move forward with your life knowing that everything has been taken care of legally and professionally.
Am I eligible for an MVL?
Do these describe your company?
✓ Your company is solvent
✓ Your company has over £25,000 in retained profits
✓ Your company has been trading for at least 24 months
✓ Your company can pay its debts in full
If you meet the above requirements, then an MVL could be an option for closing down your limited company. Remember by liquidating your company through an MVL with the Liquidation Centre you have access to money saving tax benefits and can release funds tied up in your company quickly, alongside receiving professional help and guidance along the way.
Keeping it simple with the Liquidation Centre
In order to proceed with an MVL process, it is a legal requirement to instruct an Insolvency Practitioner (IP) to carry out the process.
The Liquidation Centre is here to provide you with an unrivalled and award winning MVL liquidation service.
How we will help you close your company by:
Assisting with the declaration of solvency
Handling shareholder resolutions and paperwork
Liaising with HMRC and Companies House
Distributing funds to shareholders
Closing the company down properly
Closing your company in as little as 10 days
Our MVL service provides you with everything you need to close down your company.
Ready to close down your limited company and receive tax benefits that could save you £1000’s? Get a Quote now from one of our experts.
What is a solvent company?
In order to start the Members’ Voluntary Liquidation process your company must be solvent. If you are unsure whether your company is solvent then here are some criteria for solvency.
- Your company is able to pay its bills when due.
- Your company is able to pay all its taxes now and after closure
- Your company can pay all its creditors
- Your company can pay all its liabilities, such as mortgages, loans and lease agreements
If your company can meet all the above criteria, then it is likely you have a solvent company, and an MVL would be a cost-effective liquidation option.
What does the Members' Voluntary Liquidation process look like?
The Members’ Voluntary Liquidation (MVL) process is quick and carried out by an Insolvency Practitioner (IP) like our team of experienced and licensed IP’s here at Liquidation Centre.
There are 4 main steps in the MVL process to understand.
STAGE 1
Declaration of solvency
You sign a formal statement confirming your company can pay its debts in full within 12 months.
STAGE 2
Shareholder approval
A resolution is passed to enter liquidation, and an Insolvency Practitioner (IP) is appointed.
STAGE 3
Asset distribution
The IP pays off any outstanding liabilities and distributes remaining assets to shareholders.
STAGE 4
Final closure
All legal requirements are completed, and the company is struck off the register.
For a more in-depth look at the process, you can read our helpful 4 Stage Solvent Liquidation Process.
You can start your MVL easily by getting your online quote or contacting our expert team to discuss your situation.