19 February 2020: With Members Voluntary Liquidations (“MVL”) (solvent liquidations), making up a significant proportion of the formal appointments currently being taken across the 6 BRI offices, we often find ourselves pitching against low fee quotes found on the Internet.
A recent e-mail received from a competitor by a referring accountant was forwarded to us. We felt the need to investigate further, given that the headline was offering “an MVL for just £750 plus VAT and disbursements”.
The company offering this bargain basement MVL appears to be in need of some insolvency advice itself as, according to Companies House:-
- Last filed accounts to 31 March 2017 show shareholder funds of £300;
- Accounts for 31 March 2018 overdue (should have been filed by 31 December 2018 – and what about the 2019 accounts?);
- Proposal to strike off the company.
If you are a director of a company that may be in need of an MVL, or if you are an adviser to such a company, please call any one of the BRI offices and talk to BRI’s management team. You want the best advice for you/your client and not just another fee for an Insolvency Practitioner. It’s not just what you earn, it’s what you keep; cost and value are two very different things.
BRI – right advice first time, every time.