Company closure and new company created fees

[newuser]

Hi Guys,

I closed down my previous company and am taking entrepreneurs relief on it. The company has been closed my my accountant and a new one opened.

I received the fees for this :

New Company : £146.88
Closure of Company : £763.75

Total including VAT : 910.63

Given i also pay the accountant 135 for general book keeping VAT/Salary etc I would like to see if these charges seem expensive, they do to me.

Thanks,

[SallyPlanIT]

I think that as your accountant has gone the ESC C16 route to close the company and take a capital distribution to then apply entrepreneurs relief; that the fee is not unfair.

A standard company closure should be cheaper however.

[Nixon Williams]

It all depends what is included within the closure fee, it does seem excessive to me, our charge to an existing client to close a company would be £150+VAT.

I would ask your accountant to check on the validity of claiming ESC C16 if you are opening a new company, your circumstances may be fine but this route is not normally available if you are opening anew company.

Alan

[Fred Bloggs]

When I considered closing down last year, my accountants said that if I closed the firm at the normal year end, then there would be no extra charge. They also said that I couldn't do it as above if I intended to start a new, similar Ltd Co again straight afterwards. I decided against doing it in the end.

[spenj]

It all depends what is included within the closure fee, it does seem excessive to me, our charge to an existing client to close a company would be £150+VAT.

I would ask your accountant to check on the validity of claiming ESC C16 if you are opening a new company, your circumstances may be fine but this route is not normally available if you are opening anew company.

Alan

If you have closed down your company claiming ESC C16, is there any time limit after which it would be considered reasonable to open a new company without the ESC C16 being revoked (if that is the correct term)?