Isn't capital gains 18% upon winding up.
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Formal Liquidation Procedures
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Originally posted by centurian View PostIsn't capital gains 18% upon winding up.Comment
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Originally posted by Maslins View PostHa! Either you haven't read many of my recent posts or I've been far too subtle... I can recommend one, but I'm admittedly biased.
I'm 50% of MVL Online, quick google search will find. £995+VAT+disbursements, tho you/your accountant will need to simplify balance sheet down to just cash at bank (ie sell off any assets and pay any liabilities).
Thanks for this. Do you have any glowing references from satisfied customers?We don't have to save the world. The world is big enough to look after itself. What we have to be concerned about is whether or not the world we live in will be capable of sustaining us in it.
- Douglas AdamsComment
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Originally posted by PorkPie View PostThanks for this. Do you have any glowing references from satisfied customers?
So we've only recently had our first few starting the process. By the end of the year I'm confident there will be some glowing references.
The insolvency practitioner behind it (my colleague David Thorniley) has done hundreds of liquidations of all shapes and sizes, so we're not new to the process as a whole, but MVL Online is a new company catering specifically to the post ESC C16 market at this price.Comment
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SJD Accountancy recommended one voluntary liquidation company that is charging around £5-6k .... you think this is too much ?Comment
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Originally posted by sbakoola View PostSJD Accountancy recommended one voluntary liquidation company that is charging around £5-6k .... you think this is too much ?We don't have to save the world. The world is big enough to look after itself. What we have to be concerned about is whether or not the world we live in will be capable of sustaining us in it.
- Douglas AdamsComment
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Originally posted by sbakoola View PostSJD Accountancy recommended one voluntary liquidation company that is charging around £5-6k .... you think this is too much ?Last edited by ELBBUBKUNPS; 14 September 2012, 08:39.I like big butts and I cannot lie.Comment
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Like any industry, prices vary from one company to the next.
Bear in mind in a lot of traditional liquidations, there are all kinds of hassles relating to selling off stock/fixed assets, chasing debtors, meeting with creditors etc.
Using a formal liquidation process for very simple, solvent companies isn't really something that was done before 1 March 2012...no reason for anyone to bother.
I think only a few insolvency practices have cottoned on to this potential new market, and how much simpler the typical cases should be (hence how they can afford to do it for a much lower fee).
Unless your bank balance is in excess of £250k, MVL Online's "all in" price (ie inc VAT & disbursements) will be below £2k. Even if there's >£250k, the only change is the bond price creeps up.Comment
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So has anyone on here performed a voluntary liquidation on their limited company ? Would you recommend one for me ? Preferably in the London area and one that costs less than £3k. One liquidation company insited that I turn up to a room and swear an oath regarding my ability to pay off my liabilities , is this normal procedure?Comment
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Originally posted by sbakoola View PostOne liquidation company insited that I turn up to a room and swear an oath regarding my ability to pay off my liabilities , is this normal procedure?Comment
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