Here at BRI we make sure to deliver on time and on budget. Below are just a sample of a few comments from satisfied clients who entrusted BRI with their company liquidations prior to the recent Labour budget:
“Thank you to your team, they have worked so efficiently and really made the effort to ensure everything is done on time.” Business owner and sole shareholder.
“Just confirming safe receipt of the monies. Thank you and the team for everything.” Shareholder
“Thank you so much for all your hard work dealing with our liquidation and getting it done before the budget. We very much appreciate what you and the team have done.” Business owner and shareholder.
In the months running up to the first Labour budget since returning to office, rumours abounded that we would see the end of Business Asset Disposal Relief (BADR). One of the consequences of such rumours was that a number of company directors/shareholders wished to liquidate their company (solvently) in order to receive a capital distribution and utilise BADR relief prior to the budget. For those who aren’t aware, BADR allows for funds received via a capital distribution to be taxed at 10% not the usual capital gains tax rate.
With clients being very keen to ensure that their funds could be extracted in the most tax efficient manner prior to a potential substantial hike in their personal tax bills, BRI were trusted to deal with multiple solvent liquidations.
Now as things transpired with the budget BADR was not immediately removed, however the relief will alter from the start of the next tax year so that a 14% rate will be paid on such distributions. Therefore, if you are considering a solvent liquidation, now is the time to get in touch and BRI will be happy to help because, as you can see from the above comments, BRI get it done!