Tax Saving On Distribution
In May 2013 we were appointed Liquidator in a the solvent liquidation of a Bristol based property development company. Within 8 month of our appointment we had successfully wound up the company and received tax clearance, resulting a return of almost £600,000 to the shareholder.
Distributions made from solvent liquidations (MVL) are capital receipts rather than income and so are subject to Capital Gains Tax of between 18% and 28% (dependant on the level of other taxable income) rather than Income Tax. If the shareholder is eligible for Entrepreneurs' relief then this is just 10% which would enable significant tax savings.
Further information as to whether you might be eligible for Entrepreneurs relief please refer to guidance on the HMRC website.
I would just like to convey my thanks at the very professional way in which myself and my wife have been dealt with by your company, regarding the liquidation of this company.Landlord on a Liquidation (Landlord Lamb Hill Garage Ltd )
25 April 2016
22 March 2016
20 January 2016
- Head Office: Suite 3 Farleigh House, Farleigh Court, Old Weston Road, Flax Bourton, Bristol, BS48 1UR
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