Changing account

[PeterPan]

I just changed my accountant recently and my new accountant told mr that it would be easy and free of charge.

Now my old accountant comes up with a few of 250+ VAT to get my company i have been trading with.

Can they do that?

[gravesendboy]

fee

No accountant should charge you for the transfer of records and as such you will need to find out exactly what the fee is for
ie outstanding invoice etc

[PeterPan]

They wrote me that they are charging for:

"to cover the cost of incorporating the company for you and completing the transfer to your new accountants"

So that would be 250£+ VAT for just beening with them for 2 months.

[rootsnall]

They wrote me that they are charging for:

"to cover the cost of incorporating the company for you and completing the transfer to your new accountants"

So that would be 250£+ VAT for just beening with them for 2 months.

A lot of accountants set things up for free on the understanding that you'll do min 12 months with them on a monthly fee. If you've only paid them 2 months of fees then its probably fair enough that they want to recover some of the setup cost.

[jh0711]

mmm the fooibles of running a limited company - one of the main reasons why going ltd is NOT the best option for the short term.

[PeterPan]

@rootsnall

i left them after 2 months because they screwed everything up what can be screwed up and now they are charging money for that.

@jh0711

i have a 12 months contract

[oraclesmith]

I just changed my accountant recently and my new accountant told mr that it would be easy and free of charge.

Now my old accountant comes up with a few of 250+ VAT to get my company i have been trading with.

Can they do that?

If you run a limited company then you are already incorporated. Maybe there is a communication problem here ? It's not unusual to charge for incorporating a company (ie. registering it at Companies House etc), as there is a reasonable amount of work to do. Incorporation agents like Hanover can do it cheaper than an accountant.

[jh0711]

is it worth setting up a ltd for a 12 month contract? serious question here - I guess for some the answer is yes but for a lot of people (who may be a touch less intersted in wringing out a couple of extra bucks from the tax man in return for a load more hassle) the answer will be no.

what is the cost of running a ltd? when you include initial set up fees, insurances, accoutnancy fees etc etc etc? I am thinking of doing it but I am a bit bone idle!

[lukemg]

One of the biggest reasons I went MSC this time was grief running a LTD last time. It's a pain going along and getting rid is a pain as well. Paperwork, uncertainty about which money is yours etc.
Got a contract till May, going umbrella for the last 2 months because MSC is a no-go. Will make a decision when I get the next one about going LTD. Some people like the illusion of being in business - do you have stock, premises, employees, numerous customers etc. I like to keep it simple, I work, the money turns up - happy days.

[oraclesmith]

is it worth setting up a ltd for a 12 month contract? serious question here - I guess for some the answer is yes but for a lot of people (who may be a touch less intersted in wringing out a couple of extra bucks from the tax man in return for a load more hassle) the answer will be no.

what is the cost of running a ltd? when you include initial set up fees, insurances, accoutnancy fees etc etc etc? I am thinking of doing it but I am a bit bone idle!

I guess that depends on what you're plans are beyond the 12 months. If it's another contract or possibly a period on the bench then a limited company will be beneficial. If you're determined to go permie for life then there's no point having a limited. Once you've got one, it's relatively cheap to maintain through years when you don't need it because it can go dormant. You can always use it to trade on e-bay !