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

[philgo]

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?

[Lance]

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.

[philgo]

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?

[Lance]

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