Voluntary Liquidation

There are many reasons why a business might have to stop trading but we recognise that most businesses that fail do so honestly. Whatever the circumstances of your business coming to an end, RNF Business Advisory Limited’s experienced insolvency practitioners can help. If the business or company is solvent, we will resolve matters efficiently and cost-effectively with a tax efficient members’ voluntary liquidation. If, however, you are insolvent you may need a creditors’ voluntary liquidation. Whichever it is, we will guide you throughout the liquidation process. Creditors’ Voluntary Liquidation (CVL)

Creditors’ Voluntary Liquidation (CVL)

A creditors’ voluntary liquidation (CVL) ends a company’s life, but it can provide for all or part of the business to be transferred – at proper market value – to a new company. This means trading can continue without interruption. A CVL is the preferred route for realising and distributing assets where trading has to cease. Where a business is no longer viable, directors should talk to an insolvency practitioner as early as possible to avoid wrongful trading under the Insolvency Act 1986 and being personally liable for the company’s debts.

Members’ Voluntary Liquidation (MVL)

A members’ voluntary liquidation (MVL) also ends a company’s life but when it is solvent – ie able to pay all its debts in full, including any statutory interest. It can be a tax-efficient way of distributing accumulated profits to shareholders, particularly for single-purpose companies, since distributions can be made as capital rather than as income. An MVL may be used to overcome a temporary cash flow problem as long as you can pay all debts plus interest within 12 months. MVLs are commonly used to dispose of companies which have become dormant due to group reorganisations.

As of 1 March 2012 the ESC 16 concession was replaced by a statutory instrument governing the limits allowed to be distributed on company dissolutions which means that the MVL route is probably the most tax efficient method of shareholders withdrawing funds.

If you require any liquidation advice, information or assistance, pleaseĀ contact us.

Working with you

We will work with you to explore your situation in detail and provide clear, jargon-free, honest advice. Rest assured, anything discussed with us remains confidential.

All initial consultations are free of charge and without obligation.

When you need help

Call Ruth on 01622 764 612
Call Filippa on 020 7253 7171

Customer Pledge

Communicate these clearly and keep you updated regularly
Ensure that matters are finalised and brought to closure
Find solutions to resolve your debt issues
Treat everything you share with us in confidence
Always treat you with understanding and empathy
Ensure our fees remain competitive and fair
Provide honest straight forward advice
View Customer Pledge

Testimonials

"I would like to re-iterate my thanks to Ruth and her staff for putting my finances back on track, so efficiently and effectively. As a now retired person, I hesitate to imagine my financial outlook had you not successfully orchestrated my IVA."

Mr S

"Filippa's words of wisdom started me on a path of recovery and I will be forever indebted to her for her understanding and compassionate approach."

CEO from Devon

"I found Ruth and her teamĀ to be patient and approachable as they were always at the other end of the phone to answer any questions that we may have thereby providing us with comforting assurances as much as possible. They were also frank and candid in telling us where they did not have an answer."

Mr L Company Director

"The most important thing about Ruth's approach is she is professional, not pompous. She is sympathetic to clients who have problems, listening and finding solutions..."

Mr M. Referring Accountant

"Ruth and her team helped me through a difficult time in a caring and supportive way. I know I can always go to Ruth for advice and guidance which will be given impartially and fairly for all parties concerned. This is very much an open, clear and professional relationship which I appreciate."

Mr B IVA

"The liquidator is Filippa Connor, and from discussing the issues involved, I have found her to be thoroughly professional and alert to our concerns about the behaviour of [the company in liquidation]."

Mr R Hulls, Independent Surveyors Association

"Dear Filippa, thank you for delivering an impassioned speech on the issues that frustrate you and your fellow practitioners. We feel sure the points you raised were noted by those who mattered and we are especially grateful for your commitment."

Peter Sargent & David White R3 (Association of Business Recovery Professionals)

RNFBA on Twitter

How to survive your first year in business - #Infographic https://t.co/oAOpe1zQKT #BusinessAdvice #entrepreneur #success | @LondonLovesBiz
- Friday Sep 22 - 3:30pm

#London still rules the world of financial centres https://t.co/t1ZKt5XSXa #finance #FinancialServices via @economiamag
- Friday Sep 22 - 11:30am

Now #finance is into #GreenBusiness https://t.co/Y8gX9ie66k #cfo #sustainability #Innovation #economy #BusinessFinance via @raconteur
- Friday Sep 22 - 6:40am

Ice cream director out in the cold for #accounting records failure https://t.co/ontU7enSJO #insolvency #liquidation via @insolvencygovuk
- Thursday Sep 21 - 3:50pm

UK cements its position as global asset management hub https://t.co/HDYGiQNeer #AssetManagement #investment #growth via @LondonLovesBiz
- Thursday Sep 21 - 11:30am