Chilworth: MVL seminar set with Fanshawe Lofts

Tax-effective ways to reconstruct a business will be the subject of a breakfast seminar being held by corporate finance and recovery specialists, Fanshawe Lofts and tax consultants Lines Wilson LLP.

The seminar on the effective use of Member’s Voluntary Liquidations (MVL) and Section 110 reconstructions is being held on Tuesday 27 February from 8am to 9.30am at Chilworth Manor near Southampton.

Designed for solicitors, accountants and all professional advisers, it would also ideally suit professionals in the property industry including developers, surveyors and landlords.

The MVL offers exiting shareholders a way of getting cash or assets out of a company as a capital distribution rather than income. For those entitled to claim taper relief that means a marginal rate of tax as low as 10% on gains plus the benefits of capital gains tax annual exemptions.

“It is, in effect, a solvent liquidation,” explains Antony Fanshawe. “Basically a liquidator is appointed by the shareholders even though the company has assets sufficient to settle all its debts – and more besides. The objective is to reorganise a business to enable the shareholders to realise their interest in the company with maximum tax benefit and minimum risk.

“The MVL is increasingly being used as an incredibly tax-efficient, low risk solution for cash or asset disposal. We are now offering these to businesses on a regular basis and are often being asked by referrers to deliver them. Although this is a highly technical subject our objective is to keep the seminar at the practical level.”

Two speakers will present at the seminar. Andrew Lines, of Lines Wilson LLP chartered tax advisers, will outline the tax advantages of these reconstructions. Antony Fanshawe, senior partner of Fanshawe Lofts and a licensed insolvency practitioner will then present on the key areas of risk to be managed through the liquidation process.

The seminar costs £20 and places are limited so will be allocated on a first come first served basis. Tickets are available by emailing cj@fanshawelofts.co.uk or phoning Christine Jones on 023 8023 3522.