Exit

Sometimes a business simply reaches the end of its life. It may, in fact, be a cause for celebration.

If an owner is looking to retire after a successful career and the company is able to pay off all of its creditors, the balance of the accumulated capital in excess of £25,000 can be returned to the owner in a tax efficient manner via a ‘solvent’ liquidation, qualifying for entrepreneur’s relief.

If the business is unable to pay off all of its creditors but it has assets – or even a core of a viable business – these can be sold via a liquidation, ensuring that creditors receive the best possible return.