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Accountant Pre Liquidation Closure Fee

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    Originally posted by kookachoo View Post
    Good Morning

    Interested to hear about anyone else experience of this. I wrote to my accountant about closing MyCo and I've been quoted a closure fee of £695+VAT which I queried as other than closing down PAYE and VAT schemes I do not see what extra work is required of them since I pay them a monthly fee to prepare my CT returns and so on anyway.

    The response back was "Your final liquidation accounts need to be completed of which there is more work involved than a standard set of accounts."

    Is there something I'm missing here?
    I agree with the majority here, £695+VAT is excessive! But there will normally be an additional fee charged if you are mid-way through a financial year. As well as the closing down at HMRC, you have to consider the monthly fees that haven't been paid (if any) towards the accounts, as a full set of accounts will still need to be prepared and also the accountant's time in terms of admin and tracking.

    You have definitely got a good deal getting that reduced fee! It would be a pain to take on yourself.


      In hindsight, I think the lesson here is making sure you read the T & C's for any service you acquire. What fee are they proposing? The other solution if you're not willing to pay it is to do this yourself online if it's not too complicated.


        Originally posted by craigy1874 View Post

        ... looking at ... and using their spouse where possible.

        ... this work justifies an additional fee in my opinion.
        To be honest if you looking at and using my spouse I'd be expecting you to pay me; I certainly wouldn't be happy at a bill of £695 + VAT for you to provide that service