Members’ Voluntary Liquidations
A Members’ Voluntary Liquidation (MVL), is a voluntary process for closing down a solvent company by its shareholders in a cost-effective way.
MVLs are frequently utilised as an exit planning tool when a profitable company has reached the end of its useful life, where there are a number of shareholders keen to extract the profits of their investment, or when directors are approaching retirement or looking to depart from the business for any other reason.
There are a number of benefits for choosing an MVL including:
- tax breaks – shareholder distributions are treated as capital distributions rather than dividends, meaning they enjoy a lower rate of tax
- MVL distributions may qualify for Entrepreneurs Relief, a government scheme that offers an even lower capital gains tax (10%) on any assets that qualify
- providing peace of mind for directors, shareholders and investors by simplifying the process and ensuring that company assets are distributed fairly
- easy access to funds
- reducing risk to directors
If you are thinking of closing your limited company it is recommended that you seek professional advice as soon as possible to ensure that you are taking the correct course of action. We have partnered with one of the country’s leading Insolvency Practitioners to advise clients on the MVL process.
Business Plans & Forecasting
Business planning is essential to any business and every business owner needs to invest time in developing a plan to help clarify their business objectives and direction.
Whether you already run an established business or are contemplating a new start-up venture, a business plan will convey your company’s plans and illustrate how they can be achieved. You can use your plan to measure performance, monitor progress, make future plans and raise additional finance.
Meacher-Jones has considerable expertise in business planning and is well placed to help you develop your plans and assist you to achieve your goals.
Alongside business planning, financial forecasting is another necessity to assist in the growth of your business and our experienced team can guide you through this process.
Every business needs to plan ahead to ensure success but we appreciate that the day to day pressures of running a business often delays the forecasting process.
Each business has a different set of needs and demands when it comes to forecasting and we are able to provide a variety of information, from a one-off statement to apply for finance, through to business budgets and forecasts, linking cash flow forecasts with projected profit and loss accounts and balance sheets.
Robust financial forecasting can help you understand the viability of a business venture or provide external investors with an indication of how a business will perform following investment.
Strategic planning, setting clear goals and objectives, is essential for any business to achieve sustained growth and profitability. Everyone knows that a successful business must plan ahead, but the pressure of running your own business day to day often results in strategic planning not being given the attention it deserves.
Here at Meacher-Jones we are familiar with the kinds of challenges businesses may face and we can help play a vital role in putting a business strategy in place to help you achieve your goals.
Distressed Business and Insolvency
Meacher-Jones can provide help and support to a financially distressed company or individual during this difficult and challenging time. With proper support it is possible to reduce the impact of financial difficulties a business may be facing.
Contact us for a free initial consultation where you can discuss your situation in confidence. We will explain the options available to you and their implications on your business so you can consider your next steps.
Once a plan of action has been agreed we will help support you through the process and do everything we can to put you back in a position where you can trade again.
In situations where it is necessary to implement formal insolvency procedures we will put you in touch with a licenced insolvency practitioner who will deal with the process as quickly as possible.
We offer guidance and advice to our clients’ problems in respect of all aspects of insolvency in a confidential, professional and sensitive manner.
We appreciate that this is an extremely challenging time for you and your business and we can introduce you to an insolvency practitioner who will advise you on the most appropriate recovery and/or insolvency options which will help you plan for the future, manage any potential losses and counter creditor pressure and bailiff action.
We offer an initial free of charge, no obligation, meeting, at which we will assess the financial position of your business and discuss what options are available.
With our close association to a local firm of commercial lawyers, Meacher-Jones are delighted to be able to offer access to legal service specialists who can provide clients with tailored advice to drive their business forward.
Areas covered include:
- Probate and estates administration
- Wills and inheritance tax planning
- Creating and dissolution of trusts
- Lasting powers of attorney
- Commercial property law
- Company law and general business law advice
- Partnership law
- Contract law
If you are seeking business insurance, Meacher-Jones can put you in contact with a trusted partner who can assist with:
- Commercial Insurances
- Cyber & Data Risks
- Health Insurance
- Kidnap & Ransom Insurance
- Legal Indemnities
- Legal Liabilities Insurance
- Motor Fleet
Although we are only a small company it is extremely important that we had as smooth as transition as possible, since any disruption can negatively affect us very quickly.
In fact during this process we realised that we had now been working together with Meacher-Jones for the past seven years and in that time I can’t think of any issue that has required more than a couple of hours and has disrupted the day to day operation of the company in any way.
In addition, when we were first approached by David, we were apprehensive about changing to a new Accountant Company, especially when so many support companies offer an initial very attractive package, but after a short time the cost of the service slowly increases.
In fact with Meacher-Jones that couldn’t have been further from the truth.
With all the above in mind could you please pass our thanks on to all the staff who have been involved in our accounts over the last seven years, with special thanks to yourself, Matt and Roger Huntriss, who is sadly missed since leaving with ill health.
Thanks once again