When considering the costs of closing a charity or not for profit organisation it is important to consider all potential claims that could arise as a result of past or planned actions. The following list is not exhaustive, but will give you many of the areas to consider:
- Legal Fees
- Accountancy Fees
- Insolvency Practitioner Fees
- Other professional fees – e.g. estate agent
- Confidential waste collection/destruction
- Storage/Clearance
- Outstanding bank charges
- Redundancy Pay
- Notice Pay
- Accrued Holiday Pay
- Unexpired rental/hire agreements for office equipment, vehicles, etc
- Early termination penalties in finance agreements
- Rent due for the remaining term of a premises lease
- Dilapidations Claims
- Capital expenditure grants repayable upon closure or disposal of an asset
- Pension obligations
- Minimum term mobile phone contracts
- Any other damages or breach of contract claim(s)