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Can You Claim Entrepreneurs Relief in an MVL?

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Leading UK
Can You Claim Entrepreneurs Relief in an MVL?

For most successful businessmen who can run a profitable company and build good money from it is very crucial to find a way to save maximum while taking out their fortunes from the company. You will look for a most tax-efficient way so that your hard-earned fortunes do not end up in the state treasury.

If your company is going through the process of Members Voluntary Liquidation then you can use the member voluntary liquidation Entrepreneur’s relief to save taxes. If you use this option then you are liable to pay only 10% in taxes which is nothing in comparison to taxes you face if those funds are taken as your income. Whether they are considered as wages or dividends you need to minimize them from falling under this category to escape from a significant amount of taxes.

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