Closing a business is a major decision that needs careful planning. Whether you’re retiring, moving on to a new venture, or your company is no longer viable, choosing the right closure method is essential.

You must handle the process properly to protect your financial interests, comply with legal requirements, and avoid potential risks. This guide explores the best ways to close a company, helping you decide which option suits your situation.

What Are Your Options for Closing a Company?

The best way to close a business depends on its financial position. If your company is solvent and has no debts, you may be able to close it in a tax-efficient way. If the business struggles with debts it cannot repay, liquidation may be the best route.

Closing a Solvent Company Members’ Voluntary Liquidation

A Members’ Voluntary Liquidation (MVL) can be the most tax-efficient way to close a solvent company. It

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