Liquidating limited company ireland
Even following the new rules, assets distributed under a Members Voluntary Liquidation (MVL) are still taxed on the shareholders' as capital, which is why this has now become the most popular method for contractors to close their company.
MVLs are where shareholders choose to wind down their company, and can only be used if the company is solvent.
It often surprises Directors how little they have to do to Liquidate a company – the fact is – Liquidation does need to be done by a qualified Liquidator or their agent and so they should do most of the work When the time comes to Liquidate your company, there are steps you need to go through.
For some companies, not all of these will be necessary, but they need to be looked at all the same. The first step is incedibly easy – call us and let us know you want to liquidate your company.
Please call us on 01-2848911 to speak to our experts today with any questions you may have, or download our order form here or call us today and we will fax / e-mail or post the order form to you immediately.
Contractors' Questions: Does the new tax year affect Entrepreneurs’ Relief?This will be your last meeting as Director of your company.From here on in the company is no longer your problem, it is for the Liquidator in office to deal with any problems now.Contractors' Questions: How to take £100,000 out of a company I’m closing?
Some liquidating contractors will rethink ahead of a big change to company distribution rules.The company will not exist once it’s been removed (‘struck off’) from the companies register at Companies House.