My knowledge of contracting under a ltd company is fairly, er, limited and would appreciate some advice.
I contracted for only 3 months, back in 2001, that was the only time I have contracted and because I was sure on what needed to be done in terms of accounts/taxation, I search through the board here and picked SJD Accountancy.
In my 'wisdom' I left the company 'active', thinking that if I would ever go back to contracting it would be easier. I asked SJD to take care of anything that would need doing during these dormant year sand Im not sure if I made myself clear. Anyway, the nice lady would send me a brief 'Report of the Director' and 'Unaudited Financial Statements' for each year - it would be very brief as there was no trading ! Just a couple of hundred pounds in the bank. For just there was just a nominal charge of about £60.
However, a couple of years ago I was told this would now cost £150, granted its not much money, but there has been no trading activity since 2001. I've had enough and want to close the company down, and have been told its £150+VAT for the final accounts (18 months) and the same again to wind the company down.
Speaking to a friend, I've been told that none of this was neccassary, that all I should have done is classed the company as dormant and do an annual return each year.
I know I have been naive, I didn't know any better. However I have never been given any advice by SJD, is it true that I shouldn't need to go through this each year ?
Anyway, rather than paying SJD £300+, is this something I can do ? What are my account/tax obligations and how hard is it to wind down a ltd company. Seeing that there as been no activity since 2001, can I do the accounts myself ?
Any advice appreciated
I contracted for only 3 months, back in 2001, that was the only time I have contracted and because I was sure on what needed to be done in terms of accounts/taxation, I search through the board here and picked SJD Accountancy.
In my 'wisdom' I left the company 'active', thinking that if I would ever go back to contracting it would be easier. I asked SJD to take care of anything that would need doing during these dormant year sand Im not sure if I made myself clear. Anyway, the nice lady would send me a brief 'Report of the Director' and 'Unaudited Financial Statements' for each year - it would be very brief as there was no trading ! Just a couple of hundred pounds in the bank. For just there was just a nominal charge of about £60.
However, a couple of years ago I was told this would now cost £150, granted its not much money, but there has been no trading activity since 2001. I've had enough and want to close the company down, and have been told its £150+VAT for the final accounts (18 months) and the same again to wind the company down.
Speaking to a friend, I've been told that none of this was neccassary, that all I should have done is classed the company as dormant and do an annual return each year.
I know I have been naive, I didn't know any better. However I have never been given any advice by SJD, is it true that I shouldn't need to go through this each year ?
Anyway, rather than paying SJD £300+, is this something I can do ? What are my account/tax obligations and how hard is it to wind down a ltd company. Seeing that there as been no activity since 2001, can I do the accounts myself ?
Any advice appreciated
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