Cheapest way to close down Ltd.

[TheFaQQer]

Did you take up the equity offer from your client from last year? That could complicate matters.

Didn't someone mention that there is a higher likely hood of a tax inspection around the time of closing a company or shortly after as there is only a certain amount of time for them to do it? Might just be worth paying a little bit of dosh to have it done properly so you can sleep at night?

likelihood

[jamesbrown]

One minor addition: if you're a PCG member, keep your membership in place for a year (after the last return) to ensure continued benefits (e.g. in case of investigation).

[Clare@InTouch]

Did you take up the equity offer from your client from last year? That could complicate matters.

Didn't someone mention that there is a higher likely hood of a tax inspection around the time of closing a company or shortly after as there is only a certain amount of time for them to do it? Might just be worth paying a little bit of dosh to have it done properly so you can sleep at night?

That's the part of the fee that people often forget - it's not just the actual work itself, or the need to know the current rules, but it's being there if anything goes wrong. Within certain limits your accountant should also help out if HMRC come asking questions about the closure, and that can be worth a fair amount in itself.

[nfoote]

Did you take up the equity offer from your client from last year? That could complicate matters.

No, that is still progressing in as unofficial, unpaid arrangement for the time being.

[northernladuk]

No, that is still progressing in as unofficial, unpaid arrangement for the time being.

Okies, just be aware if the agreement is progressing between your LTD and your client the situation will change . Am sure you are aware of that though..

[CloudWalker]

I'm trying to close down my Ltd completely as I'm now (or at least for the next few years) out of the contractor game.

Clearsky is quoting me £495 + VAT to close down the company and do all the final accounts etc, which seems excessive to me, particularly given they've just done the end of year accounts and the business hasn't been trading since then so everything should just be 0's?!

Anyway, does anyone know if any cheaper options than that? Any services that would take care of everything for me but charge a bit less?

On the other hand I know there is some option of going dormant if there's potential of starting back up in a few years. But again Clearsky has quoted £50/month to run dormant, which also seems stupid amount for doing next to nothing.

Any ideas?

So far I've been happy with ClearSky but I didn't know it was so much to close down, but let us know how you get on.