Creditors Voluntary Liquidation Disbursements
Approved Recovery Limited’s CVL disbursements comprise of the following:
- Anti-money laundering searches (company and individuals)
- Statutory advertisements in the London Gazette (two to three adverts required)
- Specific insurance bond (subject to company’s asset value)
- Mileage
- Storage
- Postage
Disbursements | Category | £ |
---|---|---|
Company Anti-Money Laundering searches | 2 | £1.00 per search |
Individual Anti-Money Laundering searches | 2 | £5.50 per search |
Advertisements | 1 | £87.50 plus VAT each |
Specific insurance bond | 1 | See below table |
Mileage | 2 | £0.45 per mile |
Storage | 2 | £50.00 per box per annum |
Postage (1st & 2nd class) | 2 | Royal Mail cost at time of posting |
The cost of the specific insurance bond is dependent on the asset value of the company.
Our current CVL specific insurance bond rates are shown in the below table.
Asset Value | Bond £ |
---|---|
Under £5,000 | 40.00 |
£5,001 - £10,000 | 60.00 |
£10,001 - £25,000 | 140.00 |
£25,001 - £50,000 | 270.00 |
£50,001 - £100,000 | 480.00 |
£100,001 - £250,000 | 750.00 |
£250,001 - £500,000 | 1,020.00 |
£500,001 - £1,000,000 | 1,350.00 |
£1,000,001 - £2,000,000 | 2,160.00 |
£2,000,001 - £3,500,000 | 2,700.00 |
£3,500,001 - £5,000,000 | 3,240.00 |
Over £5,000,000 | 3,920.00 |
Category 2 disbursements require shareholder approval before they can be drawn. Category 1 disbursements do not require prior approval before being drawn. All disbursements are charged at cost plus VAT where applicable.
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