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Self Assessment Return for ER (MVL) - Extra work on SA return?

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    #11
    Originally posted by MLB View Post
    MVL. The closure fee applies if I don’t use them for the MVL. If I do the cost is approx £2500.
    2500£ fee for the MVL....gosh.. Qaccounting my accountant is charging 1000£ for MVL which is already a lot.
    So have you decided to pay SDJ closure fee and take another accountant for the MVL?

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      #12
      Originally posted by philgo View Post

      2500£ fee for the MVL....gosh.. Qaccounting my accountant is charging 1000£ for MVL which is already a lot.
      So have you decided to pay SDJ closure fee and take another accountant for the MVL?
      A liquidator is different to an accountant.
      See You Next Tuesday

      Comment


        #13
        Originally posted by Lance View Post
        A liquidator is different to an accountant.
        Yes I know. Let me be more precise.

        My accountant Qaccounting propose two different closure road:
        Normal closure where you shut down the company and extract money as dividend. No tax efficient if you have more than 25k in Bank. Charge is £250+VAT.
        Closure via MVL. Charge is £1000+VAT for "facilitating the liquidation between the company and the liquidators"

        Don't tell me that they are trying to put my pant down with the MVL fee, that's my impression as well.

        When I asked why £1000 they said they had to do the below:

        · Preparation of Form 4.25 Statement of Assets & Liabilities

        · Preparation, issue, and ultimate submission of liquidation accounts

        · Preparation, issue, and ultimate submission of final CT600

        · Preparation and submission of final VAT Return

        · Liaison with liquidators until final distribution and liquidation completion

        But I am guessing that the above should also be done with a normal closure except liaising with the liquidator isn'it? Any thoughts?


        Comment


          #14
          Originally posted by philgo View Post

          Yes I know. Let me be more precise.

          My accountant Qaccounting propose two different closure road:
          Normal closure where you shut down the company and extract money as dividend. No tax efficient if you have more than 25k in Bank. Charge is £250+VAT.
          Closure via MVL. Charge is £1000+VAT for "facilitating the liquidation between the company and the liquidators"

          Don't tell me that they are trying to put my pant down with the MVL fee, that's my impression as well.

          When I asked why £1000 they said they had to do the below:

          · Preparation of Form 4.25 Statement of Assets & Liabilities

          · Preparation, issue, and ultimate submission of liquidation accounts

          · Preparation, issue, and ultimate submission of final CT600

          · Preparation and submission of final VAT Return

          · Liaison with liquidators until final distribution and liquidation completion

          But I am guessing that the above should also be done with a normal closure except liaising with the liquidator isn'it? Any thoughts?

          No idea. Talk to a liquidator like MVL Online. They'll know more.
          I run successful businesses so have never had to consider an MVL
          See You Next Tuesday

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