Members’ Voluntary Liquidation (MVL) in Scotland

In February 2018, HMRC issued a note about Members’ Voluntary Liquidation (MVL). That note contained some incorrect statements about the position in Scotland and the purpose of this paper is to provide clarification of HMRC’s interpretation of relevant legislation. References are to current legislation: Insolvency Act 1986 (“the Act”) and Insolvency (Scotland) Rules 1986 (“the Rules”).