Why choose to close your company via MVL?
WHAT IS A MEMBER’S VOLUNTARY LIQUIDATION?
A member’s voluntary liquidation, also called a MVL, is a the process of closing down a solvent company in a cost-effective way.
This process is more tax-efficient that simply closing down your company via a strike-off and taking out the assets as dividends.
HOW LONG DOES A MEMBER’S VOLUNTARY LIQUIDATION (MVL) TAKE?
A member’s voluntary liquidation is a process that takes a few months to finalize. After the company is placed into liquidation and the assets will be distributed to the shareholders. All creditors must be paid in full prior to the liquidation and the director must submit the Declaration of Solvency, a document confirms that the company is solvent and there are no creditors left unpaid.
HOW MUCH DOES A MEMBER’S VOLUNTARY LIQUIDATION (MVL) COST?
The market’s average for a standard MVL -Member’s Voluntary Liquidation is £3,600.00
This is just a standard fee, and the price can differ from case to case.
Things like the number of shareholders, the total amount of assets etc. can influence the price.