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

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  • Lance
    replied
    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

    Leave a comment:


  • philgo
    replied
    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?


    Leave a comment:


  • Lance
    replied
    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.

    Leave a comment:


  • philgo
    replied
    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?

    Leave a comment:


  • ChimpMaster
    replied
    I pay my (very good) independent £88/month inclusive of VAT. He charged me £120 extra to work a couple of nights and a weekend to get my final accounts done in a rush for the liquidators.

    Leave a comment:


  • MLB
    replied
    Re pants down, yes to some degree but mitigated a little by quite a low monthly fee based on a price match (due to poor service a couple of years back) - which coincidentally they are now withdrawing...

    Leave a comment:


  • MLB
    replied
    MVL. The closure fee applies if I don’t use them for the MVL. If I do the cost is approx £2500.

    Leave a comment:


  • northernladuk
    replied
    Originally posted by MLB View Post
    I’m also an SJD customer and was quoted £450 + vat for closure accounts etc including the SA - so no additional £300. I hope they’re not going to reveal this later!
    They pulled your pants down on your monthly cost though so they've made it already
    IS that normal closure or via MVL?

    Leave a comment:


  • MLB
    replied
    I’m also an SJD customer and was quoted £450 + vat for closure accounts etc including the SA - so no additional £300. I hope they’re not going to reveal this later!

    Leave a comment:


  • northernladuk
    replied
    Originally posted by NoviceContractor View Post
    I stopped contracting last year and do not intend to return in next 2 years. I am on PAYE at the moment and would stay that way for some forceable future.
    .
    Thought they'd banned slave labour and human trafficking?

    It does sound a little steep although I seem to think it was £150 for SJD to do your yearly returns early so anything sub £500 doesn't come as a surprise.

    Leave a comment:

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