What is Members Voluntary Liquidation?

Members Voluntary Liquidation is a process used to wind up solvent companies that have ceased trading or are dormant . It can be very tax efficient for the owners of the business to extract the value built up in the company.

How does a Members Voluntary Liquidation work?
The directors and shareholders of the company decide to put it into liquidation and appoint a liquidator via a board meeting and an EGM.

Once appointed the liquidator will:

  • Pay any outstanding creditors
  • Ensure all tax returns are brought up to date
  • Obtain tax clearance from the Revenue Commissioners
  • Distribute any surplus funds to the shareholders
  • Call a final meeting of the shareholders to dissolve the company

Contact us for a free and confidential consultation
Call: 051 850217
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

What are the advantages of a Members Voluntary Liquidation?

  • Can be a very tax efficient method of distributing cash/ assets to shareholders <li">Take advantage of Entrepreneurial Relief and Retirement Relief <li">Savings on ongoing audit and accounting costs
  • Savings in management time previously taken up with the preparation of financial information and tax returns
  • Often used as part of a corporate simplification process where a group wants to streamline its corporate structure <li">Averts the danger of an inactive company being involuntarily struck off which can result in the loss of a company’s limited liability protection.

How can Grogan Ryan help?

We  can guide you through all aspects of the Liquidation process by:

  • Assisting you in putting a company into liquidation
  • Acting as liquidator of the company
  • Providing a comprehensive, low cost, service that is excellent value for money
Local Enterprise Office Waterford | Logo  | Logo  | Logo
GDPR Cookie Policy

This website uses cookies that are necessary to its functioning and required to achieve the purposes illustrated in the privacy policy. By accepting this OR scrolling this page OR continuing to browse, you agree to our privacy policy.