An MVL is, in essence, the liquidation of a company that is solvent. A company is solvent by definition if it has assets sufficient enough to settle all liabilities in full plus statutory interest.
The Director’s decision to instigate an MVL is generally because the company has no further purpose and is a tax efficient way of distributing its assets and profits to the Shareholders. The assets are sold, and the proceeds would be used to pay creditors in full and the liquidator’s fees. Any remaining monies would be distributed to Shareholders.
There are a number of reasons why Shareholders want to place a solvent company into Liquidation:
Members Voluntary Liquidation is generally available to companies meeting the following requirements:
We offer all our customers a complimentary initial meeting to establish what options may be available to mitigate your situation.
0161 413 0999