The fees for Members Voluntary Liquidations are very competitive. Back in 2000, we were quoting fees of £5,000 + VAT to liquidate a company with, say, €200,000 in cash. When the Euro came in 2001, our fees were effectively reduced by 22% to €5,000 + VAT. Now. 20 years later, we are quoting around €4,000 - €5,000 for a company with €200,000 of cash. In that time, MVL's have become more regulated, with AML issues, RBO issues etc
Our minimum MVL fee for companies with smaller cash balances, say, €40,000, would be about €3,000 + VAT. Expenses come to about €300.
There is exactly the same amount of work to be carried out in doing an MVL for a company with just €40,000 of cash or €4,000,0000. The link below will provide some flavour of the work involved.
Members Voluntary Liquidation Experts. Call us confidentially on 01 661 4066 for a free fee quotation. Nationwide Liquidation Service.
www.frielstafford.ie
We justify higher fees for bigger cash balances, as there is more risk involved. A liquidator can be held personally liable if he distributes all the cash and creditors then subsequently emerge looking for payment. He can also be held personally liable for other issues arising.
Before liquidating your company one of the confirmations that the liquidator will require (if he is complying with the legislation!) is that you have properly registered the Beneficial Ownership of the company with
www.rbo.gov.ie It is only a matter of time that fines will be levied on companies that have not registered.
Jim Stafford