Your MVL Quote Is £2,000 +vat

STEP 1

We will send you our engagement letter and terms of business to you by email for e-signing, and this will set out the services and the costs involved.

STEP 2

To gather the information we require from you we use an online portal that we will invite you to access, where you will find a list of all the information that we will need.

STEP 3

We have an experienced team who deal with the onboarding process for all clients and you will receive their contact details so that they may support you through the process.

STEP 4

We recommend that all company accounts and tax returns up to the cessation of trade to be submitted and all liabilities to be paid before the company enters liquidation, including making any payments on account to HMRC. 

STEP 5

You do not need to send your surplus cash to us. Once you have paid all outstanding liabilities, you can transfer all surplus funds directly from the company bank account to the bank accounts of the company’s shareholders in the same ratio as the dividend rights

STEP 6

As your information is uploaded to the client portal, we will prepare the liquidation paperwork and agree a date with you for when the company will enter liquidation. The liquidation paperwork will be sent to you for e-signing. There is one exception to this, which is the Declaration of Solvency, which is a form of the final balance sheet which is registered at Companies House. This needs to be sworn in the presence of a solicitor by a majority of the directors. We will email you the form and you will be able to engage with any solicitor of your choice.

STEP 7

Once the company is in liquidation, we will notify HMRC, the bank and any other parties required, including Companies House and we will also place the necessary adverts into the London Gazette. Any remaining funds in your company bank account (e.g. from a VAT or tax refund, or any residual balance in the company bank account) will be paid to the shareholders as a smaller, final distribution.

STEP 8

Once the company enters liquidation, our onboarding team will introduce you to one of our dedicated liquidations specialists who will manage your liquidation through to its closure. 

STEP 9

Within a few days of the company entering liquidation we will issue the shareholders with a letter detailing the first distribution. This information is what you will require for inputting on to your personal tax return. 

STEP 10

We will address any other matters arising in the liquidation and then obtain clearance from HMRC before closing the liquidation. This clearance can often take around six months to receive. 

STEP 11

We will file the final returns with Companies House to ensure your company is dissolved at the end of the process.