Members’ Voluntary Liquidation (MVL)
A Members’ Voluntary Liquidation (MVL) is the quick, easy way of closing a solvent business. It will allow you to liquidate any assets you have and distribute the cash returns in a tax-efficient way.
- You have a cash-rich company that you want to close
- You want to take advantage of MVL’s tax reliefs
- You’re confident that your company’s debts can be paid in full
If this applies to you, and you have retained profits of £25k+, choosing a Members’ Voluntary Liquidation (MVL) could save you money.
What is a Members’ Voluntary Liquidation (MVL)?
An MVL is the formal liquidation option for solvent companies. This means that your company can fully pay-off its creditors and leave no outstanding matters when it closes.
An MVL can’t proceed without a licensed insolvency practitioner (IP) like FA Simms acting as a liquidator. We oversee the ‘winding up’ of the company and take charge of calling all the meetings, releasing company assets and paying your creditors.
We’ve got an article dedicated to explaining the MVL process – and its benefits – in more detail. You can read it here .
Talk to our licensed insolvency practitioners to see if an MVL is the right option for you.
Other services we offer
Compulsory Liquidation
Compulsory Liquidation is the court-ordered liquidation of a company. It’s generally a last resort initiated by a creditor who want to get their money back.
Creditors’ Voluntary Liquidation (CVL)
A Creditors’ Voluntary Liquidation (CVL) is an insolvent liquidation process. The company is closed. Its assets are turned to cash and used to pay creditors.
Start Afresh Liquidation
This service is unique to FA Simms. We enter an insolvent company into Creditors’ Voluntary Liquidation (CVL) but use it as a business rescue process. The director of the company purchases its goodwill and assets to go forward and trade within a new company.
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