How much??

Deepinthedwang

Just had a thought!!

I know that it costs about five hundred squids to go BR:eek:

However

What in our case is the deal, all our accounts are joint accounts....

Does that mean £500.00 each??????????? AND

Does anybody know how much it costs to put a limited company into BR? and where can one get impartial advice on this?:rotfl: there seem to only be moneygrabbers online dealing with company closures.

Thanks
Bye
J

NekoZombie

hi Deepitd

yes, you need to pay the fees per individual petitioning BR. All I can say is, imho it is worth every penny....

dalip

I am afraid it is £££ each to declare yourself bc. Don't know about the other question but i think there is a charity business line which can advise,someone on here will know it,just not me:D

CCCS_Matthew

Hi there,

The full cost of bankruptcy is £495 for an individual. You cannot go bankrupt as a couple, so if you are looking at clearing all the debts you would both need to go bankrupt as individuals. This would mean it would cost £495 each (unless you are in reciept of any benefits that qualify you having the £150 court fee waived).

If you are looking for advice regarding your business. I would strongly suggest speaking to Business Debt Line. Their advice is fee, impartial and confidential.

Hope this helps
CCCS

maxmycardagain

from experience i can say that all i have heard for 2 years is that "XXX Ltd company HAS CALLED IN THE RECEIVERS" and i know for a fact that in some cases the OR cant even find enough to pay themselves

I can tell you one for a start.....

do i sound bitter?


of course the directors of a ltd company are mere employees of the company and can walk away

inovermyhead

Hi J,

I am in a similar boat. The Business Debt Line were fantastic and gave me some great advice, I'd definitely recommend you calling them.

They told me the easiest way to wind up a company, and at the lowest cost is to cease trading and 3 months later apply to be 'struck off' at Companies House. Also if you are going BR you will need to resign from your position as director within 21 days of your BR.

Give them a call as I'm sure you have different circumstances to me.

All the best,

IOMH

LilyBart

I'd echo what IOMH says, with a proviso that it's worth getting a second - or even third - opinion on some things. Also, if you trust the accountant you've been using, you should talk to him/her too. It's exhausting thinking you've got one thing sorted and then finding that you mightn't have got it sorted after all. But my gut feeling - not experience, yet - is that it's better to hear a range of different views, just because ORs' reactions are variable too.
Lily

Deepinthedwang

Thanks again guys for your help, this forum thingy is brilliant. I didnt expect answers so fast and from so many, its really appreciated.

Unfortunately the OR's not going to get much out of my company either, I have a large part of my tools and my wifes car that were put down in the company books to offset a loan that I took so it would be good if I can buy them back at a nominal rate - Any ideas on the position of buying your own stuff back.

I have some of my own tools still which I should be able to keep under the 'tools of trade' side of things,I think though, that they will tell me I need to downgrade my van which is in my personal name and valued at about £7000- Do they sell the van and then give you a bit back to buy another older van or do they instruct you to sell it. I am going to really push to keep my vehicle for work because I use it and do about 200-250 miles per day with loads of stuff in.

Anyway THANKS VERY MUCH to all for responding.:beer: :T
cheers

J

JCS1

Deepinthedwang wrote: »

Thanks again guys for your help, this forum thingy is brilliant. I didnt expect answers so fast and from so many, its really appreciated.

Unfortunately the OR's not going to get much out of my company either, I have a large part of my tools and my wifes car that were put down in the company books to offset a loan that I took so it would be good if I can buy them back at a nominal rate - Any ideas on the position of buying your own stuff back. Not all companies go via OR, some can be dealt with by an IP, especially if voluntary liquidation. Speak to business helpline people, as it isn't really my area.

I have some of my own tools still which I should be able to keep under the 'tools of trade' side of things,I think though, that they will tell me I need to downgrade my van which is in my personal name and valued at about £7000- Do they sell the van and then give you a bit back to buy another older van or do they instruct you to sell it. I am going to really push to keep my vehicle for work because I use it and do about 200-250 miles per day with loads of stuff in. OR would instruct agents to collect, sell, and give you contribution towards a replacement.

Anyway THANKS VERY MUCH to all for responding.:beer: :T
cheers

J

Hope this helps