Members’ Voluntary Liquidation (MVL) Services in Scotland

Most MVLs are completed within 6 to 12 months, although initial distributions to shareholders can often be made within a few weeks of the liquidator’s appointment. Read this blog about how quickly we can process an MVL.

The cost of an MVL typically starts from £5,000 + VAT, depending on the complexity of your company’s affairs. At Henderson Loggie, we ensure all costs are clear upfront, with additional disbursements such as statutory advertising and a bond.

Yes, an MVL is one of the most tax-efficient ways to close a solvent company, particularly if you qualify for Business Asset Disposal Relief, which can significantly reduce your tax liability.

Retained profits are distributed to shareholders as capital distributions, rather than income, making them eligible for more favourable tax treatment. Read our latest guidance on how to extract retained profits tax efficiently.

Yes, companies with less than £25,000 in retained profits may use a strike-off process. However, this is generally less tax efficient for larger amounts.

Closing a solvent company via an MVL does not negatively impact your personal credit score, as all debts are paid in full.

Yes, an MVL legally requires a licensed insolvency practitioner to act as the liquidator and oversee the process.

If we have cleared funds on the day of liquidation, we can look to pay an interim distribution to shareholder within a week, should this be beneficial to their tax position.

Other than assisting the Liquidator, your duties are likely to cease on liquidation.

Yes, it is possible for assets to be distributed in specie, but there will be tax implications.