This is a question that we, as Insolvency Practitioners, get asked a lot.
When we provide a quote for a Members’ Voluntary Liquidation (also known as a ‘solvent liquidation’), our fee is from £995 +VAT +disbursements.
So, what are the disbursements in an MVL?
There are some statutory disbursements that have to be paid in the MVL process.
We charge all of the disbursements at cost, and we regularly review them to ensure that we are getting the best prices available.
Throughout the course of the MVL we have to take out 3 Statutory Adverts in the London Gazette. These are to provide any possible creditors the chance to come forward to lodge their claim.
The cost of these is (3 x £83.90 = £251.70 +VAT): £302.04
A compulsory bond needs to be taken out. This provides the directors with security whilst funds are under the control of Clarke Bell.
The bond fee is dependent on the assets of the company. (The typical bond fee is between £80 – £110.)