A Members’ Voluntary Liquidation (MVL) is used to close down a company that has reached the end of its useful life.
It is used to formally close down a company that is solvent; in other words everyone owed money by the company will be paid in full before it is dissolved.
It is most often seen as a tax efficient route to distribute assets or cash from within a company as the distributions will usually be treated as a capital distribution rather than an income distribution.
It must be noted that only a Licensed Insolvency Practitioner can perform this liquidation. Be aware of cheap adverts promoting their services as they can only give advice which is an added cost you do not want.