I’m retiring and need to close my Limited Company
Sometimes, perfectly sound, solvent companies need to be wound up for reasons such as retirement, or because they are no longer necessary. In these situations, it is important the process is carried out properly to avoid future regulatory and tax issues.
What’s the best way to dissolve a company which doesn’t need to trade any longer?
If the limited company is dormant, with no creditors, no shareholders and no assets, then it may be possible to simply dissolve the company through a Companies House form.
If however, the company has been trading recently and there are creditors, shareholders and cash or assets to be distributed, then a more structured procedure in the form of a Members’ Voluntary Liquidation will be necessary. An MVL can be carried out very quickly, but that does not mean it is a simple process. It is advisable to have the MVL overseen by a licensed Insolvency Practitioner and seek advice from a professional tax adviser with regards to the tax implications.
How can McAlister & Co help me to wind-up my solvent company?
McAlister & Co are experienced at overseeing Members’ Voluntary Liquidations. We can put the wheels in motion almost immediately, allowing for the most cost efficient and quickest voluntary liquidation and shareholder distributions.
At McAlister & Co we are happy to offer you a free and confidential initial discussion to decide whether a Members’ Voluntary Liquidation is the right path for your company.