Accountant fees for closing Limited Co Accountant fees for closing Limited Co
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  1. #1

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    Default Accountant fees for closing Limited Co

    So I'm a Limited Co providing services to financial insititutions. I have recently given my accountants notice that I would like to close my company. My company ceased trading end of July 2019 when I went permanent employed. My previous tax year ran from April 1, 2018-March 31, 2019, so I still have Corporation tax and Self Assessment due for April-July 2019. The company has no assets.

    So to produce the final accounts, file my self assesment, submit a DS01 form (strike off a company from the register), and issue a P45, I'm being charged a grand total of GBP 385+VAT as part of their (appropriately named) "wind-up" procedure.

    I pay £84 monthly fee and additional £60 year for Self-Assesment.

    Apart from the £10 to Companies House, has anyone else had to pay accountancy fees to close their Limited Co ?

  2. #2

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    Quote Originally Posted by ih8ir35 View Post
    So I'm a Limited Co providing services to financial insititutions. I have recently given my accountants notice that I would like to close my company. My company ceased trading end of July 2019 when I went permanent employed. My previous tax year ran from April 1, 2018-March 31, 2019, so I still have Corporation tax and Self Assessment due for April-July 2019. The company has no assets.

    So to produce the final accounts, file my self assesment, submit a DS01 form (strike off a company from the register), and issue a P45, I'm being charged a grand total of GBP 385+VAT as part of their (appropriately named) "wind-up" procedure.

    I pay £84 monthly fee and additional £60 year for Self-Assesment.

    Apart from the £10 to Companies House, has anyone else had to pay accountancy fees to close their Limited Co ?
    Did you expect them to do this for free?

    REALLY?

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  3. #3

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    ask your accountant
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    You could do it yourself if you're not happy with the fees.

    I get you want to sense check whether it's a fair price but it would be a rare accountant who would take you on just to close you down. Your monthly fees are for day to day accounting. The extra fee is for a specific piece of work in addition to that.

    Just because you haven't really traded since last year isn't your accountant's problem, so it's perfectly reasonable to have paid the monthly fee for no work. Some accountants will reduce their fees if you're not doing anything but you have to think to ask that first, not pay up then complain later.

  5. #5

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    There was someone on CUK a few weeks ago saying his accountant wanted £2k to close the company, on top of the monthly fees.

  6. #6

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    Quote Originally Posted by ChimpMaster View Post
    There was someone on CUK a few weeks ago saying his accountant wanted £2k to close the company, on top of the monthly fees.
    Yeah and PC said he was a contractor once as well.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  7. #7

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    Quote Originally Posted by ladymuck View Post
    You could do it yourself if you're not happy with the fees.

    .
    This !!!

    Years ago I got a quote to build a wall in my garden

    Feck that I thought and then proceeded to build it myself - 11 weekends later I had finished but was a tad wonky - and almost killed me

    Got another builder round to repair it and asked what cowboy did this hash job, I mumbled cowboys

    Anyhoo new builder dismantled my wall in 40 minutes and built an entire new one in 6 hours without breaking a sweat

    My lesson was learnt

    Leave it to the professionals


    Sent from my iPhone using Contractor UK Forum

  8. #8

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    Quote Originally Posted by GhostofTarbera View Post
    This !!!

    Years ago I got a quote to build a wall in my garden

    Feck that I thought and then proceeded to build it myself - 11 weekends later I had finished but was a tad wonky - and almost killed me

    Got another builder round to repair it and asked what cowboy did this hash job, I mumbled cowboys

    Anyhoo new builder dismantled my wall in 40 minutes and built an entire new one in 6 hours without breaking a sweat

    My lesson was learnt

    Leave it to the professionals


    Sent from my iPhone using Contractor UK Forum
    I do this all the time, works out about 50% of the time in my case but if I combined them all together I am sure overall I'm at a bit of a loss and probably should have learnt my lesson by now. There is the occasional time though that I'll do something myself in a single weekend and save like 2k and that makes me forget about the 20 times prior where it went the other way.

  9. #9

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    Quote Originally Posted by ih8ir35 View Post
    So I'm a Limited Co providing services to financial insititutions. I have recently given my accountants notice that I would like to close my company. My company ceased trading end of July 2019 when I went permanent employed. My previous tax year ran from April 1, 2018-March 31, 2019, so I still have Corporation tax and Self Assessment due for April-July 2019. The company has no assets.

    So to produce the final accounts, file my self assesment, submit a DS01 form (strike off a company from the register), and issue a P45, I'm being charged a grand total of GBP 385+VAT as part of their (appropriately named) "wind-up" procedure.

    I pay £84 monthly fee and additional £60 year for Self-Assesment.

    Apart from the £10 to Companies House, has anyone else had to pay accountancy fees to close their Limited Co ?
    Mine has quoted £500+VAT

  10. #10

    Fingers like lightning

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    Quote Originally Posted by GhostofTarbera View Post
    This !!!

    Years ago I got a quote to build a wall in my garden

    Feck that I thought and then proceeded to build it myself - 11 weekends later I had finished but was a tad wonky - and almost killed me

    Got another builder round to repair it and asked what cowboy did this hash job, I mumbled cowboys

    Anyhoo new builder dismantled my wall in 40 minutes and built an entire new one in 6 hours without breaking a sweat

    My lesson was learnt

    Leave it to the professionals


    Sent from my iPhone using Contractor UK Forum
    I would just like to point out that I would have paid cash to see this. It would be an epic Netflix series. "Tarby Builds"; just like James May's "Re-assembler", but with added sweaty bloke and the high risk of heart attack.

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