If someone has £100,000 of undistrbuted profits in a Limited company and wants to close it through choice to start a new venture, what is the best way of extracting the funds. I have been looking into ER but I believe from 1/3/12 anything over £25,000 means it will be treated as income not capital and thus not ER. Does this mean the entire distribution or that exceeding £25k? Also is self winding up on Companies House eleigible in this case or must a liquidator be appointed? I was told the latter but have found things online saying that that is not mandatory and doing it yourself would not make this ineligible for ER. I have googled ad infinitum on thi sbut as usual just get loads of long winded contradictory twaddle. In anyone can explain the basics in plain English, I will be forever grateful..