Members’ Voluntary Liquidation (MVL)
A way to close a company that can pay all its debts, and pass what’s left to the shareholders. We help companies and directors in Leeds, Sheffield, Bradford and across Yorkshire and the UK.
Please note: this page is a brief, general overview to help you understand your options. It doesn’t cover every detail or every possible route, and it isn’t legal or financial advice. Every situation is different, so please talk to us before making any decisions.
In short: a way to close a company that can pay all its debts, and pass what’s left to the shareholders.
If your company is solvent and you want to close it, for example because you’re retiring, moving on or tidying up a group of companies, an MVL lets you do it in an orderly way.
What happens
- The directors sign a formal statement, called a declaration of solvency, confirming the company can pay all its debts within 12 months.
- The shareholders vote to close the company and appoint a licensed insolvency practitioner as liquidator.
- The liquidator sells any remaining assets and pays any debts.
- What’s left is paid out to the shareholders, and the company is closed.
Things to know
- If the company has more than £25,000 to pay out, closing it by striking it off usually means the money is taxed as income. An MVL can be more tax-efficient, so speak to your accountant as well as to us.
- Getting your accounts up to date and paying the company’s bills before you start will make the process quicker and keep costs down.
- It’s worth talking to us early, so a liquidator is ready when the time is right.
Other options
Members’ Voluntary Liquidation (MVL) isn’t right for everyone. These are the other corporate insolvency options, or you can compare them all.
What our clients say
Facing my financial position was overwhelming, but Conselia provided me with clear guidance and support. They were professional, approachable, and always explained the process in a way I could understand. Thanks to their expertise, I was able to regain control of my finances and start fresh. Highly recommended!
IVA client
I can’t thank Conselia enough for helping me through such a difficult period. Their team was understanding and completely non-judgmental, providing solutions tailored to my situation. They made what felt like an impossible challenge manageable.
IVA client
From our first conversation, Conselia made me feel reassured and in safe hands. They handled everything efficiently and were transparent about every step. I now have peace of mind and a clear path forward, and I’m so grateful for their support.
Company director
Dealing with insolvency is never easy, but Conselia turned a stressful situation into a manageable process.
Company director
I was hesitant to seek help, but Conselia put my mind at ease right away. Their professionalism, knowledge, and understanding were second to none.
Company director
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