Sometimes an MVL can be a straightforward and simple process, on other occasions the detail to complete the process may be more complex. Frost Group understand that there is not a standardised 'one size fit's all' MVL product for our clients. We want to provide a product to help you unlock the cash from your limited company as easily and tax efficiently as possible and so we have branded our product into three categories, and also introduced a new "Basic" service. The price will depend on the complexity of the service required.

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Basic Bronze MVL Service fixed fee from £1,000

This option is only suitable for a contractor company, with strictly only a sole director/shareholder, the company has ceased to trade and cessation accounts are finalised.

Suitability criteria to be eligible for our Basic MVL:

·        Contractor company only;

·        The company’s cessation accounts must be filed;

·        All CT Returns must be prepared, submitted andany liability paid in advance of the liquidation;

·        All liabilities in respect of VAT and PAYE mustbe paid to HMRC in advance of the liquidation;

·        The company must be de-registered for both VATand PAYE;

·        No fixed assets on the balance sheet (these can be either written off, depreciated, or purchased by the shareholder prior toliquidation);

·        Cash at bank and only ever one company bank account.

On the date of our appointment, we will use the Distribution in Specie process to distribute 100% of capital into the personal account of the shareholder, meaning that when the company enters liquidation client funds belong to the shareholder. This offers complete peace of mind as you will not be transferring company money to the Liquidator.

Price: £1,000 plus disbursements and VAT

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Bronze Product MVL Service fixed fee from £1,250

Our Bronze product is a fixed fee of £1,250 and is our most popular service level.

• Fast (into liquidation within a week)
• Quick access to your company money
• Capital distribution on day one of liquidation
• All meetings paperwork provided
• Friendly and efficient service

This option is suitable for a contractor company, with no more than two directors and shareholders. The company must have ceased to trade and the cessation accounts finalised.

Suitability criteria to be eligible for our Bronze MVL:

·        Contractor company only;

·        The company’s cessation accounts must be filed;

·        All CT Returns must be prepared, submitted andany liability paid in advance of the liquidation;

·        All liabilities in respect of VAT and PAYE mustbe paid to HMRC in advance of the liquidation;

·        The company must be de-registered for both VATand PAYE;

·        No fixed assets on the balance sheet (these canbe either written off, depreciated, or purchased by the shareholder prior toliquidation);

·        Cash at bank only with a maximum of 2 evercompany bank accounts;

·        Strictly no Section 455 charges.

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Disbursements for bonding and advertising are additional costs. The VAT element of our invoice is refunded by HMRC during the course of the liquidation. This product suits simple contractor MVL's who have a cash at bank only figure on their balance sheet.

If company accounts are finalised, all CT and VAT liabilities are paid and there is a cash at bank only figure (no assets or liabilities) then your company should fit into our Bronze Service.  

The disbursements for an MVL comprise three statutory advertisements at a cost of £104.00 each plus VAT in the London Gazette,  together with a statutory bond which represents a specific charge against the case for professional indemnity cover.  The quantum of the bond paid will depend upon the amount of assets held in the Company when it is placed into MVL.   There is a further 50% discount for non-cash appointments and the majority of our bronze clients fall into this category, as there is no requirement to transfer company funds into our client account, instead the distribution is treated as a distribution in specie.  (The funds are taken as a director's loan and distributed on day one of liquidation). There will clearly be a requirement for an indemnity but we have a standard document for this purpose

It really is simple, either you or your accountant provide the paperwork and we complete the whole process for you.

We will provide the Declaration of Solvency and all of the Meetings paperwork to you, which will be emailed to you prior to appointment.  Once these are completed and returned to us, we then draft the initial letters to Companies House and the various HMRC offices for VAT, CT and PAYE complying with our statutory and regulatory duties.

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Bronze Plus MVL Service fixed fee from £1,750

This package allows for more flexibility with the company structure.

Suitability criteria to be eligible for our Bronze PLUS MVL:

·        Non contractor companies;

·        The company’s cessation accounts must be filed;

·        All CT Returns must be prepared, submitted andany liability paid in advance of the liquidation;

·        All liabilities in respect of VAT and PAYE mustbe paid to HMRC in advance of the liquidation;

·        The company must be de-registered for both VATand PAYE;

·        Other assets on the balance sheet can also bedistributed in specie;

·        Cash at bank allowing for more than 2 companybank accounts;

·        No complex corporate structures;

·        Strictly no Section 455 charges.

As with the Bronze service, we use the distribution inspecie process to distribute 100% of capital on the day of our appointment. Seemore information below.

Price: £1,750 plus disbursements and VAT

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Silver MVL Service fixed fee from £3,000

This is an advice driven service and offers more flexibility for more complex MVL requirements. In partnership with your tax accountant we will ensure that the tax is correct and you will have complete peace of mind that any difficulties that may arise are resolved. Suitable for consultant or larger companies where the Board has already dealt with all asset realisations.

Our Silver Service starts from £3,000 although if liquidating more than one company please speak with our Insolvency Practitioner, Jeremy Frost, who will discuss the options available.  

Suitability criteria to be eligible for our Silver MVL:

·        Companies with complex corporate structures;

·        S455 issues - if Section 455 has been paid;

·        S455 issues – if Section 455 has not been paidby the company;

·        Cessation accounts have not been filed;

·        Cash distributions;

·        Small property investments/sales;

·        Company assets and liabilities to be finalised.

In some cases, we may be able to use the distribution inspecie process to distribute the company capital to the shareholder before liquidation.

Price: £3,000 plus disbursements and VAT

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Gold MVL Service fixed fee from £6,000

This is our bespoke and advice driven service for complex MVL's requiring a higher degree of expertise and skill.  From the start, Frost Group will be proactive in discussions with a company's professional advisors particularly in cases of restructuring and realisation of going from a live business to liquidation. We will take a commercial approach to asset realisation and deal with all creditors and contingent liabilities.

This service level is suitable for companies with complex corporate structures which may include overseas entities.

Suitable for complex closures where a commercial approach is required.