high accountant fees for closing the company

[Waldorf]

Thanks for all your replies. my company account balance is much more than £60K, so taking dividends is not at all an option for me. my company year-end is in May and the accountant says the company closure takes upto three to four months. so I will have to be in contact with them through even after moving abroad (and probably send documents by post if there are any to sign). I informed about moving plans to my accountant much earlier, but they said I can manage this even from abroad through email and making payments online. and my contract expires next week and I can't close my company before that. if I had known about this high closure charges before, I would have gone to another accountant and saved lot of money. I came to know about this new law (going to insolvency practitioner to get Entrepreneur's relief) only recently and didn't have much time to explore other options.

Just a thought, but if you are going abroad and not coming back, should you not be more worried about the taxes where you will be living.

[THEPUMA]

Just a thought, but if you are going abroad and not coming back, should you not be more worried about the taxes where you will be living.

This is a good point. Indeed, you may not need to do a capital liquidation if you are ceasing to be UK resident as there will probably be no UK tax on a dividend once you have ceased to be UK tax resident.

If you do decide to go ahead with a Members' Voluntary Liquidation, our insolvency practioner is suggesting that a fee of £2,500 + VAT plus disbursements (circa £500) would be what he would seek to charge a typical contractor. Please feel free to PM me for further details.

[Gonzo]

This is a good point. Indeed, you may not need to do a capital liquidation if you are ceasing to be UK resident as there will probably be no UK tax on a dividend once you have ceased to be UK tax resident.

The OP will have to research how the company would be viewed when they move to their new jurisdiction.

In my case, it was more advantageous to pay CGT (with entrepreneurs' relief) in the UK than it would have been to take a dividend once I had moved to my new country.