Afternoon all,
Yet another MVL post I'm afraid... tis the season obviously!
I'm looking to enter an MVL over the next few days, with a view to receiving distributions this financial year.
My first choice would obviously be MVL Online, but I've discounted them for two main reasons (I'm sure Chris will correct me if I'm mistaken on either of these points!)
- I'm a little nervous about the length of time the banks are taking to release the funds (I'm with HSBC, who appear to be one of the worst). There appears to be a significant risk that the funds won't be received before the new financial year, although I do appreciate from Chris' earlier comments it may be possible to declare the distribution 'early' to create the tax point this financial year.
- As MVL Online distribute 25% after receiving HMRC clearance (which I understand is taking months at the moment), it's almost certain that this distribution will take place in the new financial year.
My research has lead me to Frost Group who use a 'Distribution in Specie'; effectively I transfer the funds to my account under their instruction, alleviating my concerns around bank processing times.
However, despite a few recent passing references on this forum I've not been able to find any feedback on them.
So, I'm hoping perhaps someone has used them more recently, and are able to provide feedback?
Yet another MVL post I'm afraid... tis the season obviously!
I'm looking to enter an MVL over the next few days, with a view to receiving distributions this financial year.
My first choice would obviously be MVL Online, but I've discounted them for two main reasons (I'm sure Chris will correct me if I'm mistaken on either of these points!)
- I'm a little nervous about the length of time the banks are taking to release the funds (I'm with HSBC, who appear to be one of the worst). There appears to be a significant risk that the funds won't be received before the new financial year, although I do appreciate from Chris' earlier comments it may be possible to declare the distribution 'early' to create the tax point this financial year.
- As MVL Online distribute 25% after receiving HMRC clearance (which I understand is taking months at the moment), it's almost certain that this distribution will take place in the new financial year.
My research has lead me to Frost Group who use a 'Distribution in Specie'; effectively I transfer the funds to my account under their instruction, alleviating my concerns around bank processing times.
However, despite a few recent passing references on this forum I've not been able to find any feedback on them.
So, I'm hoping perhaps someone has used them more recently, and are able to provide feedback?
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