Accountant Fees for Company Closure

[Clare@InTouch]

What, like HMRC?

I didn't think a creditor could demand re-activation of a company? I thought that once it's struck, it's dead and gone and only the director could re-activate it (and then only with a fair amount of effort).

You can apply for a court order to restore a company under certain circumstances, and up to 6 years after a company has been struck off.

Guidance - strike off, dissolution and restoration (GP4)

[d000hg]

Yes for one contracting ltd company.

I have one outstanding year that has to be tied up so i presume that would include my annual return, and all other relevant tax liabilities including VAT, but still it seems very excessive to me.

If you have a whole year of outstanding accounts then wouldn't this normally cost 12x? where ? is anything from £60 to £120?

[Wanderer]

Big difference in typical costs between striking off and a formal liquidation. The former involves a lot less paperwork (hence is significantly cheaper), but does potentially leave you at risk of a forgotten about creditor appearing a few years down the line demanding payment.

What, like HMRC?

I didn't think a creditor could demand re-activation of a company? I thought that once it's struck, it's dead and gone and only the director could re-activate it (and then only with a fair amount of effort).

[Clippy]

Big difference in typical costs between striking off and a formal liquidation.

The former involves a lot less paperwork (hence is significantly cheaper), but does potentially leave you at risk of a forgotten about creditor appearing a few years down the line demanding payment. Appreciate for contractors this is generally very unlikely, as purchases are minimal.

I would suggest that fee was not unreasonable for a formal liquidation, but does sound high for getting it struck off, even if there is a bit of extra work tidying up taxes & work re ESC C16 etc.

After how many years does this no longer become an issue.

It's not forever, is it?

[Maslins]

Big difference in typical costs between striking off and a formal liquidation.

The former involves a lot less paperwork (hence is significantly cheaper), but does potentially leave you at risk of a forgotten about creditor appearing a few years down the line demanding payment. Appreciate for contractors this is generally very unlikely, as purchases are minimal.

I would suggest that fee was not unreasonable for a formal liquidation, but does sound high for getting it struck off, even if there is a bit of extra work tidying up taxes & work re ESC C16 etc.

[SueEllen]

You are just not charging enough

[Darren@UptonAccountants]

Fees

Hi,

Has anyone has closed down their company lately and what was the charge for doing this from your accountant. I have been quoted £1400 +VAT

Wondering what the going rate is for this is.

cheers

[Clare@InTouch]

Yes for one contracting ltd company.

I have one outstanding year that has to be tied up so i presume that would include my annual return, and all other relevant tax liabilities including VAT, but still it seems very excessive to me.

From what you've said, I agree. It's worth calling a few other firms to get quotes from them before you make a decision in my view.

[fabkat]

Yes for one contracting ltd company.

I have one outstanding year that has to be tied up so i presume that would include my annual return, and all other relevant tax liabilities including VAT, but still it seems very excessive to me.

[Clare@InTouch]

Hi,

Has anyone has closed down their company lately and what was the charge for doing this from your accountant. I have been quoted £1400 +VAT

Wondering what the going rate is for this is.

cheers

That can't just be for closure of one contracting company surely? Does it include your annual accounts, final tax return, anything else?

I'd say you should be looking at under £300 plus VAT to manage the closure process. Possibly more if the accounts are time consuming or there are other factors to consider.

[fabkat]

Hi,

Has anyone has closed down their company lately and what was the charge for doing this from your accountant. I have been quoted £1400 +VAT

Wondering what the going rate is for this is.

cheers