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Choosing an Insolvency Practitioner

Having decided that an MVL is the best option for you to close down your solvent company, the next decision to make is which Insolvency Practitioner will you appoint to do the liquidation.

(Find out more about the Members’ Voluntary Liquidation process here.)

There are a number of Insolvency Practitioners who can put a company into liquidation. So, in making your decision, you will need to consider what factors are most important to you.

In our experience, the main considerations for shareholders are those detailed below.

Important factors to consider

The cost of the MVL

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.

When do you want your money?

One of the key issues for shareholders of a company in going into a Members’ Voluntary Liquidation is when will they get their money from their company.

Some liquidators offer to distribute up to 75% of funds on the day they are appointed, with the remainder of the balance paid when the tax clearance has been received. This could be 6 months later.

Others will give shareholders 100% of the funds after 35 days from the date the company is placed into liquidation.

As a shareholder, it is your choice which option you’d prefer and then find the Insolvency Practitioner who can offer that service. We find that most directors prefer to have 100% of the funds after 35 days.

Location and convenience

There is no need for a face-to-face meeting with your liquidator. The whole MVL process can be done via phone, email and a Client Portal – assuming the Insolvency Practitioner is able to provide all those options to you.

So, you don’t have to appoint a liquidator who is based near you. This is especially advantageous for anyone who lives in the more expensive areas of the country, like London or the South East.

Most directors are busy people and they often work on their MVL in the evenings / at weekends. So, being able to use a Client Portal makes their life much easier than having to call the liquidator in office hours.

Clarke Bell’s MVL service

We have put more than 2,000 companies through the MVL process and distributed more than £300 million to shareholders.

Thanks to this wealth of experience, low overheads and investment in technology we charge from just £995 +VAT +disbursements for an MVL.

Shareholders get 100% of their funds after 35 days of the liquidation date. We find that our clients prefer to get all their money in one go, rather than having to wait 6 months for the balance of their funds.

Our MVL service benefits

Clarke Bell
Low cost MVL fee
Low cost disbursements
100% distribution
Quick distribution – after 35 days of the date of the liquidation
Client Portal
Dealt with more than 2,000 MVLs
Distributed over £300 million to shareholders
Friendly and professional service

For more details

To see what the total cost of your MVL would be, just click on our Instant Quote.

I am very impressed with the professional and efficient approach adopted by Clarke Bell.

Our MVL was handled in a timely manner and I was kept informed of progress throughout.

This is an excellent service which is also very good value for money – I am pleased to recommend Clarke Bell without reservation.

Clarke Bell provided a fast, friendly, professional, efficient and low cost service when we decided it was time to end the life of our company via the MVL route.

The documentation supplied was clear, any questions were answered immediately and there were no hidden costs.

I have absolutely no hesitation in recommending Clarke Bell to any other company director wishing to end the life of their company via the MVL route.

I just wanted to say how impressed I have been with every aspect of the MVL process.

It has been an absolute pleasure to work with your very professional company.

I will have no hesitation in recommending Clarke Bell Limited to any other potential clients.

Wishing you every success for the future.

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