Reviewed: 8th April 2019
Companies in good financial standing can use a Members’ Voluntary Liquidation (MVL) to efficiently wind up the affairs of a company and realise its assets into a cash amount that can be divided up amongst shareholders.
If entrepreneur's relief is available to your company it would effectively reduce your Capital Gains Tax from 20% to 10% on any gains up to a lifetime limit of £10 million. This relief is available to individuals who are disposing of the shares of a trading or holding company or group in which they hold 5% or more of the voting rights and have done so for a minimum of two years. If entrepreneur's relief is not available, an MVL may still provide tax benefits depending on what tax band the individual is in.
If you have any questions about the MVL process or any matter related to closing your limited company, whether it is solvent or insolvent, Real Business Rescue can help. Call our experts on 0800 644 6080 to arrange a free consultation at any one of our 75 Offices or a place of your convenience.
21st August 2019
The government is to begin automatically enrolling businesses across the country onto a customs system designed to function if the UK leaves the European Union later this year.Read More
19th August 2019
Companies across the UK economy are “seriously underprepared” for a No Deal Brexit scenario, according to the interim director general of the Institute of Directors (IoD).Read More