Anyone used mvlonline

[BiggieBig]

As per my earlier posts

My accounts have now filed accounts up to 31 Aug.

I have around 4-5 transactions this month mainly around fees and some expenses.

Can I get you engaged now to start the process ?
do I need to wait until i've paid CT tax ?
do you need anything else ?

[Maslins]

My accounts have now filed accounts up to 31 Aug.

I have around 4-5 transactions this month mainly around fees and some expenses.

Can I get you engaged now to start the process ?
do I need to wait until i've paid CT tax ?
do you need anything else ?

Hello, you say the recent transactions are "mainly around fees and some expenses"...when you say fees, do you mean fee income for you? Or costs like accountancy fees?

If the former, sounds like you'll have made a profit since 1 Sep, and therefore will unfortunately need to do a further CT return.

If it's just costs, ideally (from your CT perspective) these would have been accrued as much as possible into the 31 August accounts. If not, and they're only small, I'd suggest we ignore them (meaning you won't get tax relief for those costs). If large, you can potentially get your accountant to do a further CT return, carrying back the loss.

We can get stuck in as soon as you're happy the company has ceased trading, any final tax issues are sorted, and any other liabilities/non cash assets are cleared out. This would include physically paying the CT liability.

If you'd like to discuss this further, I'd suggest perhaps best to do it via email (info at mvlonline.co.uk) to minimise personal company information of yours being on the public forum.

[BiggieBig]

my accounts have been finalised the accounts just paying my final liabilities (CGT,VAT)

The accounts are asking if they should deregister for tax now.

My on the FRS is there any benefit from keeping this open ?

[Maslins]

my accounts have been finalised the accounts just paying my final liabilities (CGT,VAT)

The accounts are asking if they should deregister for tax now.

My on the FRS is there any benefit from keeping this open ?

In an ideal world you'd come off the FRS, but leave the VAT registration itself open. That way we should be able to reclaim VAT on our bits and bobs.

You're talking a couple of hundred quid though, so in the grand scheme of things not too significant.

[Maslins]

When the ltd comes under control of the Insolvency practice how are the business bank accounts actually managed in terms of accessing them at a practical level ? Say for example would the login I use for my Business Bank accounts become in active and the insolvency practice get new logins etc ?

Thanks

We won't actually take control of your bank account. Once the liquidation's underway, we will set up a brand new bank account called "ELBBUBKUNPS Ltd (in liquidation)" (rename as appropriate).

We'll then get various bits of paperwork to your bank so they're happy to transfer funds from your existing account under your control to this new one under our control. They should also check there aren't any remaining active standing orders/direct debits, and can then close your account.

[BiggieBig]

ok think i'm ready to start the process.

what do I need to be on-boarded and also do you have any + references I could check.

for example are there any positive members on here who have complete the process.

[Maslins]

ok think i'm ready to start the process.

what do I need to be on-boarded and also do you have any + references I could check.

for example are there any positive members on here who have complete the process.

Still nobody's gone right the way through the process to the end, and I imagine it'll be at least a month, probably two, before that's the case.

If you're happy to press ahead, please tick all the boxes here to confirm you understand what's involved, a "next" button should appear, then there's an information request page.

[AlmostGone]

Well pleased..

Just a quick note to anyone browsing re. the service so far at MVL Online. In a nutshell I am well satisfied so far. Everything has been very smooth.
What is impressing me most is the fast response to my queries - no waiting around, and no vague answers. This is good.

The process is moving along nicely and there's good communication. Hope it continues but no doubt that it will.

[BiggieBig]

Just a quick note to anyone browsing re. the service so far at MVL Online. In a nutshell I am well satisfied so far. Everything has been very smooth.
What is impressing me most is the fast response to my queries - no waiting around, and no vague answers. This is good.

The process is moving along nicely and there's good communication. Hope it continues but no doubt that it will.

Thanks that's reassuring to know how far are you through the process ?.

[BiggieBig]

another Q

once the funds have been transferred to the liquidation account. how long before you can transfer the balance to my personal account.

I can send you my accounts worksheet and all returns to date to proof that all liabilities have been settled. Also what percentage of the sums would you need to retain if any.