Capital Gains Tax changes announced in the Autumn Budget significantly impact limited company directors who are considering closing their businesses, altering fiscal strategies.
In the process of solvent liquidation, directors must weigh whether to opt for a dissolution or a Members' Voluntary Liquidation based on retained profits.
For solvent companies with retained profits over £25,000, a Members' Voluntary Liquidation is recommended as it allows tax-efficient fund extraction.
Consulting with a licensed insolvency practitioner is crucial for navigating the best exit strategy when closing a solvent limited company.
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