• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Tax on company wind up and emigration

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Tax on company wind up and emigration

    Hi all,

    I've been offered a job in Aus, and therefore need to wind up my company. However to earn a living between now and then I need to run the company and then wind it up.

    I have built up some capital in this time and my accountants tell me that this can be taken as a capital disbursement but only three months after the wind up. This puts me firmly into Aus taxation territory which is best avoided. I have currently hit upon the idea of getting to April 6, taking the cash out as a dividend, and then leaving a couple of weeks later. This would be well under the taxable allowances for the 03-04 tax year, BUT is this pro rata on time spent as a resident?

    Has anyone else been through this and what did you do?

    Thanks

Working...
X