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MVL Online - Still awaiting 2nd (final) payout

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    MVL Online - Still awaiting 2nd (final) payout

    Hi Folks,

    LTD Company.

    Went through liquidation at the beginning of the year, and had my first payment around a month after. I'm still awaiting my second payout at the moment.

    I've seen some people saying this can take up to 6 months with COVID-19. Is that the case? I'm starting to worry I'm never going to see the cash given its been 6 months now with no word. I'm told it's due to the HMRC department being massively behind.

    Anyone know anymore?

    J

    #2
    I would ask MVL Online. HMRC may be dragging their heels with your company sign-off.

    Edit: oh, you've said this. I would agree with it but call them anyway as you obviously don't know for sure.

    You'll get your money, it's just going to take a while longer than anyone expected.
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

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      #3
      Covid-19 has significantly impacted HMRC, which is indirectly causing MVL Online problems with closure timescales. HMRC reassigned their team dealing with MVL clearances to other departments deemed more urgent in the circumstances (eg those dealing with furlough claims). I understand the team were reassigned from 4 April and only returned a few weeks ago. Hence for circa 3 months no solvent liquidation firms were getting any clearances, or any response to chasers.

      The HMRC team are now back and beavering away, though inevitably it will take a while for them to work through the full backlog. Even pre lockdown we tended to suggest clients expect 4-6 months for MVLO to get clearances so we can move to close. Whilst we were hearing nothing, cases that went beyond 6 months in we contact the clients to discuss.

      We're hoping that with the HMRC MVL clearance team back, we'll be paying out final funds and closing large numbers of cases over the next few months. I'm certainly not looking for sympathy, but it's not good at all for us to have an ever growing list of open cases! We get no benefit from it, we just want them done and off our books...but equally want to ensure we've covered the relevant bases and got HMRC clearance wherever possible. We're still there doing what we can, but unfortunately it's been a tricky time for everyone. All client funds not yet distributed are still sitting safely.

      Whilst your CUK username sounds like a real name, I can't readily tell which client you might be. Do get in touch if you're concerned, either via PM here, or email to the usual address.

      Comment


        #4
        I went through the process at the beginning of last year (I used MVL Online).

        It took almost exactly six months from start to finish. With all that’s been going on in the world I’d imagine you’re in for another 2-3 months wait TBH.

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