Some Insolvency Practitioner are transparent regarding the fees they charge, and make it very clear on their websites. This saves you the time and effort of having to contact the Insolvency Practitioner to find out what they are going to charge you.
There is a wide range of MVL fees charged by liquidators – ranging from around £6,000 to about £800.
For some directors, price isn’t really a factor in their decision-making process. They are happy to pay whatever they are charged to put their company into MVL.
However, a lot of directors don’t like to needlessly pay more than they have to. Consequently, the fee a liquidator charges will be a key factor in their decision as to who they will appoint for their MVL. That said, as we all know, cheapest isn’t necessarily best.
Some people worry that a low price means they will get a poor service. However, when a liquidator has completed thousands of MVLs, they will have developed efficient processes which enables them to keep the price low.
When an Insolvency Practitioner is dealing with a large volume of liquidations, they are likely to have obtained a reduced price for the disbursements in an MVL. They should be charging the disbursements at cost, which will keep the cost of the MVL down.
Also, when an Insolvency Practitioner has low overheads, this should be reflected in their fees.