Why carry an administrative burden and financial cost? Corporate structures and entities that are no longer relevant are costing you time and money.
“Business as usual” is a term that is becoming increasingly redundant in today’s business landscape. Technology, globalisation and innovation are all factors that contribute to a changing business environment, and many businesses are evolving.
When your business priorities and goals change, often you need to shift focus and reorganise your business structure. This can make once-active entities redundant.
Continuing to carry subsidiaries that are no longer needed could be placing an unnecessary burden on your group. A review of your corporate structure by a specialist with complementary taxation and business advisory expertise is an important first step to ensure that you are operating efficiently.
Streamlining your corporate structure through the process of member’s voluntary liquidation (MVL) is a cost-effective and efficient way to dispose of unwanted (often dormant) companies and distribute their assets to shareholders.
Key indicators that your company may need to streamline
- You have dormant or redundant companies
- You have entities within your structure that were set up for a specific purpose but are now no longer necessary
- You are seeking finance (or refinancing) and your lender requires a transparent corporate structure
- You are paying unnecessary compliance costs
- Entities that were established with others (such as a joint venture) are now redundant