Recommendations for MVL liquidator

[heyya99]

How have you got any money left to MVL after the SJD charges for their services?

3 fiddy

[northernladuk]

How have you got any money left to MVL after the SJD charges for their services?

[heyya99]

I'm finding the advice on closing a company asap in light of possible ER scrappage confusing. My SJD accountant says wait and see on budget day, but I'm getting conflicting advice from a MVL company I spoke to.

My year-end is December, therefore my 09/20 accounts have already been filled. My accountant says the soonest I can get accounts to HMRC is June of this year as HMRC don't accept accounts < 6 months (SJD say I can bring forward my company close date by 6 months).

I'm a bit concerned my accountant is being too relaxed and not seeing the importance ER is to me. I want to act on ER scrappage, whether it happens or not. I still don't know if I can get my business close before April 6th (and avail of ER), if I start MVL this week. It's very frustrating.

[cojak]

I suspect that it's all going to change in the next two weeks anyway.

[northernladuk]

Cant we get a sticky and subsection going for MVL instead of having to go through the same basic questions over and over again? A good majority of the questions are now on MVL and it's all the same ones. If people can't research what to do with 10s of thousands then a sub section should help them.

[cojak]

Just after some recommendations for a good MVL liquidator. I have seen several advertising flat rates somewhere around £800+vat and timescales of around 7 days. Being a relatively simple sole director sole shareholder I expect I would fit into that category. I don't want to spend 2-3k on it and have it take months so I am looking for someone that has used one which was quick, cheap, and fixed rate.

My guess is that those adverts do not quote the total, final figure. You have statutory advertising in the London Gazette to pay for (around £300) and a Bond with the company (that can vary between £50 and £200 depending on the company and what you're paying for).

And anything else the company adds.

When you contact companies, ask for the total cost.

[cojak]

Recommendations for MVL liquidator

My accountant's MVL bod would have cost me a lot more as they deal with larger companies having lots of capital assets.

MVLOnline deals with straightforward MVLs. Anything unusual (like a fast turnaround) will cost more money.

I could of had my MVL turned around in a few weeks with a different liquidator, but it would have cost more than twice as much.

Cheap and quick do not go together.

[northernladuk]

Might I ask why Maslins are the folk to go with and not the service your accountant's service?

He's niche with his MVLOnline solution in our community. Not so much so with the accountancy service.
I do believe he has a number of customers on the forums though so not like its no one.

[heyya99]

Might I ask why Maslins are the folk to go with and not the service your accountant's service?

[ahspooner]

Did the liquidators quoting 7 days say what would be achieved in that time, and how the fund transfers will be managed?

i.e. will they ask you to transfer the funds from your business account to their estate account or directly to your personal account? There are other threads around here regarding the latter, and the slight chance that HMRC could claim that distributions are taxed as dividends rather than ER/capital gains, as you, and not the liquidator transfered the funds. As I say, I've read that this is only a slight risk though, so depends on how risk averse you are. Not trying to scare you, would just rather you have all the detail from them.

Just after some recommendations for a good MVL liquidator. I have seen several advertising flat rates somewhere around £800+vat and timescales of around 7 days. Being a relatively simple sole director sole shareholder I expect I would fit into that category. I don't want to spend 2-3k on it and have it take months so I am looking for someone that has used one which was quick, cheap, and fixed rate.

[Andy Hallett]

You should try the guys at umbrella.co.uk, I am fairly sure they have their own Inhouse Insolvency Practitioner.

Can imagine they’ll be busy over the next few weeks!

[ewokuk]

Thanks will check out Maslin, my accountant has someone they work with so I will check them out and compare (I am guessing if the accountant and liquidator know each other than it helps a bit with the flow of information needed between the two as they already know how each other operates).

[northernladuk]

+1 to Maslins. I wouldn't go anywhere else.

[eek]

Just after some recommendations for a good MVL liquidator. I have seen several advertising flat rates somewhere around £800+vat and timescales of around 7 days. Being a relatively simple sole director sole shareholder I expect I would fit into that category. I don't want to spend 2-3k on it and have it take months so I am looking for someone that has used one which was quick, cheap, and fixed rate.

Maslin's post on here so would be the usual recommendation.

[ewokuk]

Just after some recommendations for a good MVL liquidator. I have seen several advertising flat rates somewhere around £800+vat and timescales of around 7 days. Being a relatively simple sole director sole shareholder I expect I would fit into that category. I don't want to spend 2-3k on it and have it take months so I am looking for someone that has used one which was quick, cheap, and fixed rate.