Liquidation

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Liquidation

Allworths have assisted clients with member’s voluntary liquidations and deregistration when these entities were no longer required, or to obtain other tax benefits available from a formal liquidation process.

A member’s voluntary liquidation is the winding-up procedure for solvent companies initiated by the company’s members.

There are a number of reasons why you may require your company to be liquidated. In some cases the company may no longer serve its original purpose and liquidation will allow the release of the assets from the company back to the shareholders.

Benefits of efficient liquidations

Benefits of efficient liquidations include:

  • ensures companies assets are realized and debts paid out as soon as possible allowing for liquidators distributions to be made to members in a timely manner
  • statutory requirements are met and taxation matters are finalized
  • experienced liquidators can advise of best strategies prior to proceeding with a liquidation
  • where pre-CGT or active asset discounted gain exists in a company’s books then there may be tax benefits of a liquidation

How can we assist?

Allworths can assist clients with member’s voluntary liquidations and deregistration in a cost effective and efficient way.

We also work with a number of other accountants assisting them with liquidations ensuring their clients receive a high level service.

In the situation where the company is insolvent and unable to pay its debts as required it may be necessary to place the company to Administration or a Creditors Liquidation.

If you require a creditors’ liquidation Allworths have  preferred practitioners who can assist with this process.

Contact us today to discuss your liquidation requirements.