Who is Members Voluntary Liquidation? Our office is located in Dublin 6, We act as corporate restructuring experts throughout Ireland and have vast experience in all sectors. Members Voluntary Liquidations are second nature to us. For a free, no obligation consultation and quotation please contact us via the chat box below.
Members Voluntary Liquidation is a process used to wind-up/close solvent companies that have ceased trading or are considering ceasing to trade.
No more audit and accounting costs. No more time spent dealing with audit, accounting, tax issues. Efficient method of streamlining group structures. Tax efficient method of distributing cash and assets to shareholders.
Distributions are subject to Capital Gains Tax (33%) not Income Tax (up to 52%). Retirement Relief may be claimed in some instances sheltering up to €750,000 of Income. Entrepreneurs Relief may be claimed in some instances reducing the CGT rate down to 10% on up to 1 Million Euro of income. No stamp duty payable on the distribution in specie of most assets. Tax free termination payments to directors and employees may be claimed in some instances.
Not as much as you think. Prices vary depending on the complexity of each case, the work of the external auditor, whether distribution in species is required, and whether solicitors are required to transfer land/buildings. In straightforward cases it may be a case that only €1,750+vat is required.
The directors sign a declaration of solvency which is reviewed by an Auditor. The directors call an EGM of the shareholders. 75% agreement of the shareholders is required.
Pays any outstanding creditors. Ensures all tax returns are up to date. Distributes any surplus funds to the shareholders.