A Members’ Voluntary Liquidation (MVL) is the voluntary liquidation process available to solvent companies. It has increased in popularity since March 2012 due to the healthy tax benefits it applies to shareholder distributions.

In order to proceed with this liquidation process a Licensed Insolvency Practitioner will need to be appointed. In order to carry out their duties, the Licensed Insolvency Practitioner is given powers under Sch.4 of the Insolvency Act 1986. These powers include:

• To sell assets and distribute them to creditors/shareholders
• Use the company bank account(s)
• Appoint any agents required. For example chartered surveyors or lawyers.

If you own a solvent company with which you are not sure that you wish to continue trading with then contact FA Simms & Partners on. We are a firm of Licensed Insolvency Practitioners that deal with all insolvent and solvent liquidation processes. We offer free no obligation advice to try and help you and your company find the most appropriate service tailored to your needs.