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Fixed Fee or Hourly rate for closing a company

Fixed Fee or Hourly rate for closing a company

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I have had this client for just a year on a monthly direct debit.  IT contractor (husband and wife)  Limited Company.  3K Fixed Assets and 50K Cash.  No creditors.

They wish to close the company.  Would you charge the additional work on fixed fee or hourly basis for the additional formalities and advice ?

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By johngroganjga
11th Sep 2017 15:40

If it's as simple as you suggest where is your risk in quoting a fixed fee with relatively few caveats?

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By andy.partridge
11th Sep 2017 15:53

Hourly basis then charge 100 hours. They won't know, will they, unless you are using that time-sheet app that streams live from your office to your client's phone when doing their work.

They might expect you to know how long it will take you. I do fixed fee with a caveat for unforseen circumstances.

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By ireallyshouldknowthisbut
11th Sep 2017 17:54

What are you going to do for them exactly that is so hard?

It ought to be either routing tax planing plus a DS01 or routine year end and pack them off to a liquidator for the cash.

At most I would charge £100 but probably nothing on the basis that might come back if if you don't try and squeeze them.

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