Voluntary Liquidation

Testimonials

"The most important thing about Ruth's approach is she is professional, not pompous. She is sympathetic to clients who have problems, listening and finding solutions."

"Ruth and her team helped me through a difficult time in a caring and supportive way. I know I can always go to Ruth for advice and guidance which will be given impartially and fairly for all parties concerned. This is very much an open, clear and professional relationship which I appreciate."
"I found Atherton Bailey to be patient and approachable as they were always at the other end of the phone to answer any questions that we may have thereby providing us with comforting assurances as much as possible. They were also frank and candid in telling us where they did not have an answer."

"I can therefore recommend Atherton Bailey to other companies and I believe that you can count on them to do their part if you do your part." - Mr L. Company Director

"Atherton Bailey's communication was superb as they communicated clearly and promptly with all interested parties which included our company's creditors, notably HMRC, the board of directors and shareholders and used appropriate means of communication. They certainly managed the process from the beginning to the end satisfactorily and secured for us an acceptable CVA arrangement"

"I found your firm's overall approach to be very professional; his initial concerns as to the complications of liquidation were speedily allayed and all questions of a technical nature were answered with professional care and patience. The outcome was achieved with a minimum of fuss and all loose ends were meticulously dealt with." - Mr W. Co-Director.

There are many reasons why a business might have to stop trading but we recognise that most businesses that fail do so honestly. Whatever the circumstances of your business coming to an end, Atherton Bailey's experienced insolvency practitioners can help.

If the business or company is solvent, we will resolve matters efficiently and cost-effectively with a tax efficient members' voluntary liquidation. If, however, you are insolvent you may need a creditors' voluntary liquidation. Whichever it is, we will guide you throughout the liquidation process.

Creditors' Voluntary Liquidation (CVL)

A creditors' voluntary liquidation (CVL) ends a company's life, but it can provide for all or part of the business to be transferred - at proper market value - to a new company. This means trading can continue without interruption. A CVL is the preferred route for realising and distributing assets where trading has to cease. Where a business is no longer viable, directors should talk to an insolvency practitioner as early as possible to avoid wrongful trading under the Insolvency Act 1986 and being personally liable for the company's debts.

Members' Voluntary Liquidation (MVL)

A members' voluntary liquidation (MVL) also ends a company's life but when it is solvent - ie able to pay all its debts in full, including any statutory interest. It can be a tax-efficient way of distributing accumulated profits to shareholders, particularly for single-purpose companies, since distributions can be made as capital rather than as income. An MVL may be used to overcome a temporary cash flow problem as long as you can pay all debts plus interest within 12 months. MVLs are commonly used to dispose of companies which have become dormant due to group reorganisations.

If you require any liquidation advice, information or assistance, please contact us.

Company Insolvency

Testimonials

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Creditors' Voluntary Liquidation (CVL)

Members' Voluntary Liquidation (MVL)