Strike off

Strike off

Didn't find your answer?

I've been quoted 3k to strike off a property development company which has no debts and only asset is cash at bank. This seems excessive for a bit of admin, is this market rate? Any better value recommendations out there?

Replies (9)

Please login or register to join the discussion.

By Ruddles
31st Aug 2015 16:14

New car

I was looking for a new car over the weekend. I found one on offer at £27,950, Does anyone know where I'd get a better deal?

In other words, you don't say who has quoted, what type of striking off and how much cash is involved.

Thanks (0)
paddle steamer
By DJKL
31st Aug 2015 16:20

Clicked this thread thinking it was about Calais!!

NM

Thanks (1)
Replying to Wilson Philips:
paddle steamer
By DJKL
31st Aug 2015 18:10

Probably because of income treatment

Jackie0802 wrote:

https://www.gov.uk/strike-off-your-company-from-companies-register/close...

 

"If the amount is worth more than £25,000, it will be treated as income and you’ll have to pay Income Tax on it."

from your link above you supplied.

Thanks (0)
avatar
By qhas
31st Aug 2015 19:15

Liquidation costs
I think that is a fair price. I have been involved with 4 liquidations in the last two years and the charge was around £5k. Having said that they all had HMRC LIABILITIES. Not as as straightforward as you

Thanks (0)
By johngroganjga
31st Aug 2015 21:16

If you are not sure about the price get alternative quotes.

Thanks (0)
avatar
By Cloudcounter
31st Aug 2015 21:39

MVL Online

Have a look at MVL Online who will give you a fixed price of between £995 plus VAT and disbursements.  Run by a contributor on here, and I have no connection with it

Thanks (2)
avatar
By Maslins
01st Sep 2015 09:06

The title of the thread is "strike off", but I'm guessing unless you're with PWC what you've actually been quoted for is a liquidation?  Liquidations are considerably more expensive than a strike off, but as DJKL says, if you've got >£25k net assets and want it taxed on you via capital gains rather than as dividends, you'll need a liquidation.  Hence the creation of MVL Online, trying to help do the simplest liquidations for a more affordable fee (I'm director and 50% owner of this company...other companies offering similar services exist).

Please note you would need to ensure the balance sheet is literally just cash at bank...so no properties left on the balance sheet, all debts due in collected, and all debts owed (including final tax bills) declared and paid.

Thanks (1)
avatar
By Martin B
01st Sep 2015 16:37

MVL online

flagging

Thanks (0)