FOR SOLVENT UK BUSINESSES
Your Options When Selling Has Not Worked
If your solvent company is heading for closure, there are three broad routes. Two of them end the business. One aims to keep it alive. Here is how they compare, in plain English.
Simple. Confidential. No obligation.
Strike-off vs MVL vs letting it live on with Retire Today
A plain side-by-side summary. It is general information, not advice, and your own circumstances will matter.
| Route | Strike-off | MVL | Let it live on with Retire Today |
|---|---|---|---|
| What it is | The company is removed from the register by Companies House. | A formal solvent liquidation run by a licensed insolvency practitioner. | The business carries on with Retire Today instead of shutting down, so your staff, customers and legacy keep going. We'll explain exactly how it works on a short call. |
| Who it suits | Solvent companies that are finished and have nothing left to carry on. GOV.UK says solvent companies may choose it. | Solvent companies that want a formal, supervised wind-down. GOV.UK says solvent companies may choose it. | Solvent businesses that would otherwise close, where the business is suitable. Not every business is. |
| What happens to staff and customers | The business stops, so jobs end and customers have to go elsewhere. | The business stops, so jobs end and customers have to go elsewhere. | The aim is to keep jobs going and customers looked after. We'll explain what that means for your business on a short call. |
| What you receive | Whatever is left in the company once anything owed is dealt with. How it is taxed depends on the amount and on you. | Funds are distributed to shareholders after costs and any debts are paid. How that is taxed depends on you. | We aim to make sure you receive a similar financial outcome to closing, received over time. It depends on the business, is received over time and is confirmed in writing after we've looked at your figures. |
| How it feels | Quick on paper, but it still means switching off the lights. | Orderly and supervised, but you are still shutting down what you built. | The business carries on, so you don't have to tear down what you built. |
| What to check | The conditions on GOV.UK for who can apply, and tax, with your accountant. | You need a licensed insolvency practitioner and a declaration that debts can be paid within 12 months (GOV.UK). Ask for a quote. | Whether your business is suitable, and the exact terms, which we'll explain on a short call. |
A closer look at each route
- Strike-off. GOV.UK says solvent companies may choose to be struck off the register at Companies House. It is simple, and it ends the business. Check the current conditions on GOV.UK, and the tax with your accountant.
- Members’ voluntary liquidation (MVL). A formal, supervised wind-down of a solvent company. GOV.UK says it needs a licensed insolvency practitioner and a declaration that debts can be paid within 12 months.
- Let it live on with Retire Today. Instead of shutting down, the business carries on with us. The aim is to keep jobs going and customers looked after. Not every business is suitable, and we’ll explain exactly how it works on a short call.
What you may receive
We aim to make sure you receive a similar financial outcome to closing, received over time.
This depends on the business. It isn't a guarantee, it isn't a lump sum paid on day one, and it's confirmed in writing after we've looked at your figures. We'll explain exactly how and when on a short call.
How it works
-
Tell us about the business
Answer a few questions in about two minutes. Your details stay with Retire Today.
-
We give you an honest view
We look at what you've told us and say plainly whether we can help, or whether closing may be the more appropriate route. If we can help, we'll explain exactly how it works on a short call.
-
You decide with no obligation
Take as long as you need. There's no pressure, and you can walk away at any point.
Questions about the routes
Is letting it live on the same as selling?
No. The business keeps going instead of closing. We are not a broker, and this is not the same as selling. We'll explain exactly how it works on a short call.
Can I still choose to close?
Of course. Nothing here stops you striking off or running an MVL. For some owners that is the right route, and we will tell you so honestly.
What does an MVL need?
GOV.UK says a members’ voluntary liquidation needs a licensed insolvency practitioner and a declaration that the company can pay its debts within 12 months.
See which route fits your business
Two minutes. Simple. Confidential. No obligation.
Get my exit options