Members’ Voluntary Liquidations for haulage and transport businesses

A Members’ Voluntary Liquidation (MVL) is a tax-efficient company closure route for solvent companies, popular with haulage and transportation businesses. An MVL is a common exit tool for businesses that are profit rich as it allows shareholders to extract company profits in a way that maximises returns. MVLs are associated with a range of tax advantages, making them popular with haulage companies with high-value assets.

You may consider closing your company as it no longer serves a purpose, due to retirement, challenging market conditions, rising operational costs, volatile fuel prices, reduced demand or to pursue another venture. An MVL is a suitable exit route for businesses that no longer hold a purpose, so if you want to close a solvent haulage company, consider a Members’ Voluntary Liquidation.

Closing a solvent haulage business

If you want to close a solvent haulage company, a Members’ Voluntary Liquidation is a quick and stress-free managed process, handled by a licensed insolvency practitioner. An MVL is suitable for companies with over £25,000 retained profits and must be able to settle company liabilities within 12 months of the date of liquidation.

An MVL provides an ideal opportunity for company shareholders to cash out on their investment. You may also consider realising assets to maximise the cash available, suitable for asset-rich haulage and transport businesses. Our insolvency practitioners can advise on how to extract cash from the company quickly and seamlessly.

MVL timeline for haulage businesses

A Solvent Liquidations expert will help prepare a company for a Members’ Voluntary Liquidation. The timeline for a Members’ Voluntary Liquidation includes:

Appoint insolvency practitioner – Choose a licensed insolvency practitioner to liquidate your solvent company and act as company liquidator.

Declaration of solvency – Sign a declaration of solvency that attests to the solvency of your company. This document is required as part of a Members’ Voluntary Liquidation.

Liquidation commences – Relevant parties will be notified, including HMRC and Companies House, and the liquidation will be advertised in the Gazette.

Distributions made to shareholders– Capital distributions will be made to shareholders, and the company will be dissolved and removed from the Companies House register.

25,000+ Company Directors Supported – Partner Led Service

As the UK’s largest company liquidations provider, our MVL specialists have 35 years’ experience and a track record of supporting over 25,000 directors and counting. With unparalleled sector expertise and a highly experienced partner-led team, we are market leaders.

Solvent Liquidation made a complex process feel simple. Their expertise and support throughout my MVL ensured a stress-free and positive outcome.

Sarah Thompson

The team at Solvent Liquidation were incredibly professional and efficient. They handled my MVL with care, making the entire experience straightforward.

James Patel

I highly recommend Solvent Liquidation. Their clear guidance and knowledge made my MVL process smooth and successful. A fantastic service!

Oliver Williams