If there’s at least £25,000 left over after creditors have been paid in full then an MVL would be the best way to close the business.
During the process of this type of liquidation, the remaining cash is distributed to shareholders and the company removed from the Companies House register. MVLs also allow shareholders to access Entrepreneurs’ Relief so it’s a tax efficient way of closing a limited company too.
If there’s less than £25,000 after creditors have been paid then dissolution or striking-off is a better choice.