As you are no doubt aware the withdrawal of Extra Statutory Concession ESC16 took place on 1 March 2012.
Historically you would have required prior consent of HM Revenue & Customs in order to distribute the remaining funds to be treated as a capital receipt.
Any capital distribution in excess of £25,000 will require a formal winding up which can only be done by a licensed insolvency practitioner.
See worked example of the cost saving by doing a solvent liquidation
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