Liquidation and Dissolution

Extraordinary Operations

Liquidation and dissolution

Liquidation and dissolution are complex processes that require meticulous planning and strict adherence to legal and tax regulations. Liquidation involves ceasing a company’s operations and converting its assets into cash to repay debts and distribute any remaining funds to shareholders.

Forms of liquidation

There are several forms of liquidation, each with specific rules:

  • Members’ Voluntary Liquidation (MVL):For solvent companies, enabling a controlled and tax-efficient closure.
  • Creditors’ Voluntary Liquidation (CVL):For insolvent companies, allowing for an orderly debt repayment process under creditor supervision.
  • Compulsory Liquidation:Initiated by court order, typically due to severe insolvency.

Not all company closures require formal liquidation. In some cases, businesses can be struck off the Companies House register via a “strike-off” procedure, provided all tax obligations are met, and no debts remain.

At PAGE, we support businesses through all stages of liquidation and dissolution:
• Offering preliminary consultations to determine the most suitable process for your situation.
• Managing MVL and CVL procedures comprehensively, from tax filings to asset distribution, ensuring all administrative and tax requirements are met.
• Facilitating strike-off processes, handling filings with Companies House and tax authorities (HMRC).

By partnering with PAGE, you can rest assured that your company’s closure will be managed efficiently, minimizing legal and financial risks for directors and shareholders while complying with UK regulations.