Big changes to tax rates and reliefs are expected to be announced in the Autumn budget in attempt by the government to recoup some funds paid out as a result of the pandemic. One suspected change is the scrapping of entrepreneurs relief.
For many years, business owners have utilised the members' voluntary liquidation (MVL) process to extract their hard earned funds at the lowest possible tax rate. To understand more about MVLs and why they are considered to be more tax efficient please click here.
Furthermore, we have made it easier than ever for you or your client to obtain a MVL quote from us by using our automated online quoting tool. You can find our quoting tool by clicking here.
The date for the Autumn budget has yet to be announced but it is expected by November 2020 at the latest. We are therefore urging anyone wishing to consider a MVL process to act now to ensure that a distribution is made before the budget.
At Ballard Business Recovery we have worked with many business owners looking to benefit from the MVL process. We pride ourselves in making the process simple and efficient for all parties concerned. If you would like to discuss this matter with us further please either insert your contact details on the online MVL quoting tool or contact us.
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