Closing down a Ltd yourself Closing down a Ltd yourself
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  1. #1

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    Default Closing down a Ltd yourself

    I'm sure I've seen a bit of a 'guide' on this somewhere but can't find it again. I am closing my Ltd down via the < £25K route and my accountant is currently preparing my last set of accounts. Previous informal guidance was that it wouldn't cost me anything extra over and above my normal monthly fee as it just involved letters to the IR and VAT. However I have now received an email asking for £500+ to do the closing down. Not replied yet ! So my question is how difficult is it to do it yourself. I guess the main thing is the accounts won't have been approved at the point of going it alone if I stop my monthly payment at end of Jan. Any help much appreciated.

  2. #2

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    Quote Originally Posted by rootsnall View Post
    I'm sure I've seen a bit of a 'guide' on this somewhere but can't find it again. I am closing my Ltd down via the < £25K route and my accountant is currently preparing my last set of accounts. Previous informal guidance was that it wouldn't cost me anything extra over and above my normal monthly fee as it just involved letters to the IR and VAT. However I have now received an email asking for £500+ to do the closing down. Not replied yet ! So my question is how difficult is it to do it yourself. I guess the main thing is the accounts won't have been approved at the point of going it alone if I stop my monthly payment at end of Jan. Any help much appreciated.
    Pay the £500 and move on with your life.

    Do you REALLY need the hassle of doing something for which you're clearly unprepared?
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  3. #3

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    Quote Originally Posted by wattaj View Post
    Pay the £500 and move on with your life.

    Do you REALLY need the hassle of doing something for which you're clearly unprepared?
    Probably not, but just making sure I know what is involved. I had misread my accountants email and thought it had limited cover but this fee does cover any hassle down the track so may well be worth it for peace of mind.
    Last edited by rootsnall; 11th January 2020 at 11:38.

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    Quote Originally Posted by rootsnall View Post
    Probably not but it also has a 'this covers just 6 weeks' line in the email so is possibly paying £500 for not much and not giving peace of mind. That is why I am asking what is involved.
    Then ask for a fixed fee.
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  5. #5

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    Quote Originally Posted by wattaj View Post
    Then ask for a fixed fee.
    It is, I had misread the email initially. The perils of reading emails after a lot of wine the night before. I have also just discovered an extra spanner in the works in that the agency have just paid me for an extra 2 days, no idea why.

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  6. #6

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    Am I missing something ?

    If my accountant says that my end of year accounts ( that are just being prepared ) are my final set of accounts then the only part left to is to strike off the Ltd Co by sending off a DS01 form ( after 3 months of no trading ) and inform the VAT man.

    Close the PAYE scheme !?
    Last edited by rootsnall; 11th January 2020 at 14:19.

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