Going perm... for now

[ckms]

Ltd Co being set to dormant status by my accountant who's charging 50% fees going forward while I start the perm contract. I want the option to return to contract at some point so no plans to close but question is do I really need to be paying an accountant at all?

Plus given that the last year has been freelance projects as opposed to all out contract work should I cancel QDOS insurances and IPSE?

Thanks

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[BrilloPad]

Which insurances do you have?

[ckms]

Indemnity and liability insurance

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[ladymuck]

I'd keep PI for a year unless you're certain there's no likelihood of a claim against you.

I'd also keep IPSE for a year in case HMRC come a-knocking.

If after a year you're still not trading then you'll probably want to start thinking about closing down anyway.

[PerfectStorm]

I'd keep PI for a year unless you're certain there's no likelihood of a claim against you.

I'd also keep IPSE for a year in case HMRC come a-knocking.
.

They can ask about personal and company taxation for 2 years after year end and VAT for 6... I'd suggest at least two years.

I speak as someone who got their Christmas card at the end of the 2nd year.