MFA Accountants

At MFA Insolvency, we have built our reputation over three decades, helping businesses across Hampshire succeed. We are a firm of accountants and insolvency practitioners who have a traditional approach to providing proactive business advice to modern standards.

Our Services

We specialise in delivering a professional and fast service, backed by more than three decades' experience. We have a reputation for providing tailored accounting services for businesses of all sizes, ensuring that you only pay for what you need. Our approach is to provide proactive business advice, which is tailored to your specific needs and goals.

At MFA Insolvency, we understand that every business is unique, and we have a team of experienced accountants and insolvency practitioners who understand the issues businesses face. We become the adviser you rely on for good sound advice. Whether you require personal or company insolvency support, we are committed to providing you with trusted, quality insolvency solutions.

Members' Voluntary Liquidation

We also specialise in Members' Voluntary Liquidation, which is a legal process whereby a solvent company is wound up and dissolved. Our experienced team will guide you through the process, which is explained to you in advance, along with all the costs involved. These costs are fixed at the outset, and there will be no shocks. We will also provide your accountants with the details of all distributions, enabling them to complete your tax return in a timely fashion.

In addition, we will provide quick distribution of assets, whether they be in cash or not. As a result, you will have a clear understanding of the process and the costs involved, allowing you to make informed decisions about your business.

Entrepreneurs' Relief

We also advise on Entrepreneurs' Relief, which is a valuable tax relief available to entrepreneurs. Entrepreneurs' Relief means that you will pay tax at 10% on qualifying assets, instead of the normal rate of 18% or 28%. This relief is currently available on up to 10 million lifetime gains, which could result in a tax saving of up to 1.8 million.

To qualify for Entrepreneurs' Relief, you must satisfy certain conditions, including owning the business for at least one year prior to the date of disposal. You must also dispose of all or part of your business or assets comprising the business, rather than just using the business assets.

Procedure for Members' Voluntary Liquidation

Our procedure for Members' Voluntary Liquidation involves several stages:

1. Initial Assessment: We assess whether the company is surplus to requirements and is solvent. We also review the company's affairs and identify any retention of company name.

2. Pre-Liquidation Review: We wind down trading operations as necessary and review the company's affairs. We also identify actual and contingent liabilities and discuss the need for an indemnity.

3. Initiation of Liquidation: We convene a directors' meeting and review management accounts and confirm the company's solvency. We also sign and certify a statutory Declaration of Solvency.

4. Commencement of Liquidation: We convene an Extraordinary General Meeting of shareholders (EGM) or propose written resolutions to wind up the company. We also pass winding up and ancillary resolutions, and the Certificate of Appointment of Liquidator is signed and certified.

5. Post-Liquidation: We file statutory documents and advertise within prescribed time limits. We also notify the relevant authorities and interested parties of the Liquidator's appointment. We close the company bank account(s) and open new Liquidation bank accounts where applicable. We also collect books and records and company seal, and distribute surplus assets to shareholders.

Conclusion

At MFA Insolvency, we are committed to providing trusted, quality insolvency solutions to businesses across Hampshire. Our team of experienced accountants and insolvency practitioners has a reputation for delivering a professional and fast service, backed by more than three decades of experience. We provide tailored accounting services, proactive business advice, and trusted insolvency support to help businesses succeed.