Closing Down Company

[Mobix]

Hey,

I've told my accountants back in November that I wanted to close my LTD since I'm inside IR35 now. I've not worked outside IR35 since the start of the current tax year. My company's financial year is September-August. Any idea how long does the whole process usually take? It's been over 2 months now and they've only just deregistered my for VAT. I feel like they're taking me for a ride.

[northernladuk]

SJD/NW et al? Months and months. Anyone else then I'd guess theyjust waiting for the period they tend to do company accounts in bulk. Closing companys and saying goodbye to income isn't high on their priority list. You aren't still paying them monthly are you?

Anything complex like 25k+ in the account or anything?

Have you tried ringing them and discussing it? People find it harder to lie and bluff on the phone than other communication methods.

[Mobix]

It's Qaccounting. They've billed me £300 for closing down the company and then there is further £60 monthly fee (maximum 3 times) charged until the DS01 is submitted. Does that sound like a ripoff?

[jamesbrown]

It's Qaccounting. They've billed me £300 for closing down the company and then there is further £60 monthly fee (maximum 3 times) charged until the DS01 is submitted. Does that sound like a ripoff?

Not especially. Monthly fee accountancy is a bit of a misnomer as it relates to their costs. The hardest returns are annual, so you can see the monthly fee as a friendly way to pay the annual fee.