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Voluntary strike off vs MVL
| Voluntary strike off | MVL | |
| Best for | Dormant company with no assets or liabilities | Solvent company with assets and/or liabilities |
| Key requirement | Company must be inactive for at least three months before applying | Must be able to pay all debts within 12 months |
| Process | Director file DS01 at Companies House with copies to creditors | Directors must sign Declaration of Solvency |
| Tax treatment | Distributions taxed as income (up to 39.35%) | Distributions taxed as capital (10%–24% CGT, with BADR if eligible) |
| Assurances | No: Directors assume responsibility for strike off process | Yes: Liquidator follows statutory process |
| Director’s personal risk | Risk of penalties if process is not followed correctly | False Declaration of Solvency can have legal consequences |
Voluntary strike off vs MVL
| Voluntary strike off | MVL | |
| Best for | Dormant company with no assets or liabilities | Solvent company with assets and/or liabilities |
| Key requirement | Company must be inactive for at least three months before applying | Must be able to pay all debts within 12 months |
| Process | Director file DS01 at Companies House with copies to creditors | Directors must sign Declaration of Solvency |
| Tax treatment | Distributions taxed as income (up to 39.35%) | Distributions taxed as capital (10%–24% CGT, with BADR if eligible) |
| Assurances | No: Directors assume responsibility for strike off process | Yes: Liquidator follows statutory process |
| Director’s personal risk | Risk of penalties if process is not followed correctly | False Declaration of Solvency can have legal consequences |
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