In specie distribution - safe or risky?

[eek]

And this was the typical answer of use Darren Upton and trust Darren Upton with your money…

please be sure you know who you hand over 100s of ks too and think about fraud and insolvency no matter how remote it seems

You know the money goes into a separate trust account.

as for Darren Upton, don’t trust anyone giving you new bank details, double check - this is especially important for agencies dealing with umbrella firms at the moment when there are copycat “umbrella” firms trying to steal this weeks payments.

if you are going to claim something is like XYZ at least understand the how the original crime was committed.

[NowPermOutsideUK]

And the above is why MVLOnline is your choice. Clearly knows his bananas and is visible. What else do you want in an MVL provider.

And this was the typical answer of use Darren Upton and trust Darren Upton with your money…

please be sure you know who you hand over 100s of ks too and think about fraud and insolvency no matter how remote it seems

[Lance]

Thinking of going down the MVL route

thin out the herd!!

[ContractorBanking]

Thanks Maslins and NLUK.

Once my accountant has prepared final accounts, ill be in touch with MVL Online.

[northernladuk]

This HMRC guidance page makes it fairly clear they accept distributions in specie to clear loans like this as CGT receipts for the individual.

And the above is why MVLOnline is your choice. Clearly knows his bananas and is visible. What else do you want in an MVL provider.

[Maslins]

This HMRC guidance page makes it fairly clear they accept distributions in specie to clear loans like this as CGT receipts for the individual.

[ContractorBanking]

Thinking of going down the MVL route and noticed in the past few months 'in specie distribution" seems to be quite common.

How risky is 'in specie distribution' vs the traditional route where the liquidator takes the cash and performs the distributions, from a BADR/CGT perspective?

I'm concerned the distribution may be classified as dividend rather than a capital gain.

How real is this risk and what can you do to mitigate this risk? Is it down to the liquidator and how they perform their duties?

I've shortlisted the following MLV providers based on these forums, will give them all a ring and see who I feel most comfortable with. Any others I should consider?

Clarke Bell
MVL Online
Begbies Traynor Group


thanks