Members’ Voluntary Liquidations for professional services businesses

A Members’ Voluntary Liquidation (MVL) is a formal company liquidation procedure for solvent companies. If you want to close a professional services company that’s solvent, an MVL is a suitable exit tool that’s tax efficient and facilitates the quick release of cash. The procedure is fully managed by a licensed insolvency practitioner, which makes it a stress-free experience for company shareholders.

There are many reasons why you may consider closing a solvent company, from inflation pressures, changing consumer expectations, growing competition, skills shortages or another venture. An MVL provides a solution that enables you to dispose of a company through a formal process handled by an experienced Solvent Liquidations expert.

Closing a solvent professional services business       

A Members’ Voluntary Liquidation is suitable for solvent companies that can settle company liabilities within 12 months of the liquidation date. The company must also have retained profits over £25,000 for the MVL route to be cost-efficient.

If your company has no cash or assets, you may consider striking off or dissolving your company. If you are unsure whether a Members’ Voluntary Liquidation is suitable for your professional services company, get in touch for a free, no-obligation consultation.

When closing a professional services company, you may realise assets to maximise the cash available in your company. A Solvent Liquidations expert will advise on how to prepare your company for the liquidation process, minimise the cost and length of the MVL process, and extract funds from the company to minimise the tax liability.

MVL timeline for professional services businesses

The MVL timeline for professional services businesses includes:

Appoint an insolvency practitioner – Choose a licensed, reputable and experienced insolvency practitioner to liquidate your solvent company.

Sign a declaration of solvency – As part of the Members’ Voluntary Liquidation route, sign a declaration of solvency to confirm that your business is solvent.

Liquidation process begins – The company liquidation process begins, and the relevant parties are notified, such as HMRC and Companies House. The company liquidation will be advertised in the Gazette.

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

For more information on how to close your solvent professional services company, get in touch with a member of the Solvent Liquidations team.

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