MVL and transfer of funds to Insolvency Practitioner...norm or risky?

[Clarke Bell]

Folks.

planning to call it a day on my limited company and following MVL route.
however, my IP is asking for funds to be transferred to her business account.
Company has no liabilities pending, and disbursements are to director herself mainly.

so question - it is a standard practice to transfer entire funds to IP and then get appropriate amount back?

I hope someone can provide genuine information to help me decide whether to transfer or not.

thanks.

Yes, this is normal practice from an IP...with the funds being held in a client account.

And I agree about doing the due-diligence, and making sure you are dealing with an IP who is regulated and experienced with doing MVLs.