The goalposts for Members’ Voluntary Liquidation taxes are changing as announced in the Autumn Budget, Labour’s first major fiscal announcement since coming into power. As the government set out to raise a record £40 billion through tax rises, Capital Gains Tax and Business Asset Disposal Relief, both crucial to an MVL, came under the firing line.
A Members’ Voluntary Liquidation is a popular liquidation procedure as it provides a seamless exit route from a solvent limited company to company directors. An MVL provides a highly tax-efficient solution to exiting company directors in search of tax favourable ways to extract funds, and continues to uphold this advantage, despite the increase in MVL taxes.
What’s…
