Ltd company

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roofer
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Ltd company

Postby roofer » Thu Mar 02, 2017 11:39 am

Do I stillneed a ltd company. I bought 4 houses back in 06 intended renovating but the time isn't right. I'm paying roughly £250 a year to an accountant in bg. Do I need to.

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ChrisF
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Re: Ltd company

Postby ChrisF » Thu Mar 02, 2017 12:31 pm

£250 is a tad excessive. I pay 50 levs for a nil return for my company.
If, however, you want to get rid of your company and transfer the houses into your own name it will cost - probably about the same as you are paying your accountant at the moment.
DO NOT simply stop submitting accounts before the company is dissolved or you could be liable for quite heavy fines.
Not sure what the consequences of Brexit will be though - you might well need a company to own property in two years time

lawyer_

Re: Ltd company

Postby lawyer_ » Fri Mar 03, 2017 8:52 am

roofer wrote:Do I stillneed a ltd company. I bought 4 houses back in 06 intended renovating but the time isn't right. I'm paying roughly £250 a year to an accountant in bg. Do I need to.


Hello there, I am a lawyer specialized in real estate and tax law. I could assure you that 250 pounds for accounting services is nothing. That's first. Secondly, after Brexit it is most probably that the British will be treated as foreigners for EU countries. So, the company is OK. Of course, as you have properties on the company name, the garbage tax and holding tax for property are around 40% higher than if you got it on your name as an individual.

lawyer_

Re: Ltd company

Postby lawyer_ » Fri Mar 03, 2017 8:54 am

Hello there, I am a lawyer specialized in real estate and tax law. I could assure you that 250 pounds for accounting services is nothing. That's first. Secondly, after Brexit it is most probably that the British will be treated as foreigners for EU countries. So, the company is OK. Of course, as you have properties on the company name, the garbage tax and holding tax for property are around 40% higher than if you got it on your name as an individual.

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ChrisF
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Re: Ltd company

Postby ChrisF » Fri Mar 03, 2017 9:03 am

I beg to differ, £250 for a nil return is extortionate.
As for Brexit, nobody knows what, or when, anything will happen.

MaureenH1962
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Re: Ltd company

Postby MaureenH1962 » Thu Aug 24, 2017 7:14 pm

I agree that £250 is a huge amount for a non active tax return. ChrisF - I'd rather pay what you pay. Who does yours and does it have to be done in the municipality the company is based in?

I'm looking to sell what I own in Bulgaria (with my ex) and wondered if I can sell the holding company with its assets. I've two building plots (1250m each) and a house (probably in ruins now) with 4400m2 of land and outbuildings. Problem I see is that estate agents charge so much for fees I may have nothing left after they charge their fees. Any advice?

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varnagirl
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Re: Ltd company

Postby varnagirl » Fri Aug 25, 2017 5:47 pm

lawyer_ wrote: I could assure you that 250 pounds for accounting services is nothing. T


youe having a laugh..its a bl**din RIP OFF

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bigbulg
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Re: Ltd company

Postby bigbulg » Tue Aug 29, 2017 7:55 am

I heard a rumour from a reliable source that the requirement for non trading companies to declare is being considered to be ended.

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westwitch
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Re: Ltd company

Postby westwitch » Tue Aug 29, 2017 8:09 pm

Now wouldn't that be really be great! It's such a waste of everybody's time having to go through this rigmarole every year - although I don't expect the accountants will be too pleased at losing out on a very lucrative source of income.

Please keep us informed with any developments.


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