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’re a contractor closing a company to take a full-time role (especially due to IR35).
- You own a company but are retiring or simply want to close it down.
- You have a dormant company that no longer has a purpose.
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 Members’ Voluntary Liquidation (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.