October 17, 2020
A company may commence the voluntary liquidation with the approval of a majority of the directors of the board. It includes the approval of the majority of their shareholders and creditors. The company will have stopped trading by the end of the liquidation process. It will be removed from Companies House & cease to exist.
• This type of liquidation is not assigned by any court or regulated body but must be approved by shareholders and the board of directors.
• This process involves the pre-mediated termination of a corporation by selling off its assets and settling it’s all outstanding financial obligations.
• The purpose of a voluntary liquidation is to cash out of a business that does not have a workable future or which has no other purpose in remaining serviceable.
MVL process enables shareholders to liquidate their Company providing it is solvent. It means that the business must have enough funds to pay all of its liabilities, in addition to the cost of the MVL and statutory interest that is payable.
• We carry out searches on pension websites, Company House Beta, Bankruptcy searches, etc
• Ensuring HMRC is advised of the appointment
• We prepare all documents required to realize assets, i.e.
• We prepare all standard documents, including standard tax letters, reports to creditors, etc.
• We prepare clearance letters, a complete checklist, and final reports.
Benefits of Outsourcing the MVL Work to Doshi Outsourcing:
• We understand the motivations of the clients are commercial in its approach and work tirelessly and effectively to drive the highest value outcome.
• We have a team of legal experts, which is easily accessible by you.
• We believe in delivering very consistent quality across the team.
• We go the extra mile for our clients.
• We also look to encourage more comprehensive knowledge and understanding of insolvency within and outside the insolvency profession by access to our skills and knowledge.
In today’s global economy, it is difficult to increase or decrease the number of employees in the company.
By outsourcing members voluntary liquidation work, the risk of being sued by the employees gets minimal and the ability to increase or decrease the employees becomes quicker.
Companies require good and efficient internal human resources as the core of business functions. By outsourcing services, companies get some more time and capital to move their business in the forward direction.
This is one of the important factors which boosts the demand for outsourcing work.
If a company has launched a new product in the market, there is a risk that with the employees only in the same nation may not do well with. If they have offshore-employees, the strategies can be quickly tuned to meet the rising demands.
Being a part of an offshore company handle a non-core business which leads to better services. The company can focus on expanding their business and can save their capital by hiring professional who can do usually the same work for less money. Therefore, outsourcing Insolvency back-office work can help in improving your services.