MVL Still not complete after nearly 1 year - anyone else?

[sira]

I kicked off my MVL with one of the reputable firms, back in late November 2020. Everything's been paid out. From HMRC, they received CT clearance back in the summer and they've been awaiting for VAT & PAYE clearance since then. I had a simple Ltd with no funny business, so not expecting any issues. They keep telling me that HMRC have a backlog and that their chasing every month.

Anyone else waiting a long time for their MVL to complete? Is there anything I can do...?

[Maslins]

Anyone else waiting a long time for their MVL to complete?

Yes

Is there anything I can do...?

No(!)

MVL Online started finalising cases even without PAYE/VAT clearance, where we could at least demonstrate HMRC had been chased multiple times and a significant period had passed (6+ months). Doing this goes against best practice...but in our view it's simply not viable to keep clients hanging on (and us having an ever expanding number of open cases) forever. Also I'm fairly confident it goes against HMRC best practice to ignore these requests for >6 months!

[DaaaaaaaaaaN]

Yep, I kicked off the MVL process in October 2020 and still haven't had official confirmation of completion from the HMRC. I received my distribution payment back in November 2020 and have paid my ER tax liability so it doesn't really make any difference tbh.

[sira]

Thanks All. I've asked the liquidator if they can provide an alternative solution.

[sira]

UPDATE for everyone: My liquidator said HMRC are currently doing cases that were kicked off in April. As mine was in November, looks like I may need to wait another circa 6 months.

[ChimpMaster]

Yep, I kicked off the MVL process in October 2020 and still haven't had official confirmation of completion from the HMRC. I received my distribution payment back in November 2020 and have paid my ER tax liability so it doesn't really make any difference tbh.

Doesn't it make a difference if you intend to go back contracting after 2 years?

[ladymuck]

Doesn't it make a difference if you intend to go back contracting after 2 years?

Ooh...interesting. Does the 2 year clock start when HMRC acknowledge the process is complete?

[jamesbrown]

Ooh...interesting. Does the 2 year clock start when HMRC acknowledge the process is complete?

It starts from the date that the last distribution occurred.

[ContractorBanking]

So that's more like a 3-year handcuff, ouch.

I'm thinking of going down the MVL route, how long does it typically take for the first distribution and what % can you expect at this stage?

[Manic]

Kicked off mine in Jan/Feb 20. HMRC validation was August. final closure this month.