Originally posted by Blert596
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The user mvlonline will likely respond here to you, but my understanding is you will receive approximately 75% of the company cash - if in a compliant quick bank, such as HSBC current account - in around 4 to 6 weeks. This would mean ER could apply at this point; remaining cash is reserved for surprise HMRC debts and third party debt. You're unlikely to have those if you've sorted your affairs appropriately before starting the MVL process, but remaining cash may also need that 'ER' stamp at the point of distribution too.
ER is selected on your self assessment tax return too - I believe, I've never done it, but this is my understanding. The date of the distribution is what matters, although intriguingly if you've received 75% of the monies BUT the rules change before you receive the final proportion of the remaining 25% then can you claim ER on the former but not the latter? Good question.
MVL folk, where hark ye?
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