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MVL and Ltd Company to Umbrella ?

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    #21
    Originally posted by northernladuk View Post
    You could try ringing Chris Maslin who posted earlier and runs MVLOnline. If anyone knows surely he does. See if he's heard anything. You could try dropping him a PM with the link to this thread and he might update is tomorrow.
    Thanks for this, I have messaged Chris now.

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      #22
      Originally posted by NickX View Post
      I wouldn't be planning to do 2 years under the brolly - probably around 6-12 months before retiring.
      A couple of thoughts from this:
      1) based on the above, why not delay liquidating for 6-12 months?
      2) if you're concerned about possible upcoming rule changes (and whilst I've not specifically heard any rumours of a change here, it's almost inevitable it'll be stomped on at some point), and you've got a hefty war chest to enjoy following liquidation, why bother working for another 6-12 months?

      My overall view is that brolly post liquidating is most likely safe...but with a big war chest and you being on the brink of retirement, to me seems a bit of a risk for a few months extra work?

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        #23
        Originally posted by Maslins View Post
        A couple of thoughts from this:
        1) based on the above, why not delay liquidating for 6-12 months?
        2) if you're concerned about possible upcoming rule changes (and whilst I've not specifically heard any rumours of a change here, it's almost inevitable it'll be stomped on at some point), and you've got a hefty war chest to enjoy following liquidation, why bother working for another 6-12 months?

        My overall view is that brolly post liquidating is most likely safe...but with a big war chest and you being on the brink of retirement, to me seems a bit of a risk for a few months extra work?
        Thanks again for your reply.

        Well, I think you probably are seeing between the lines fairly accurately.

        I am concerned about potential changes to the rules. The 10% Entrepreneurs Relief is certainly very attractive and I would be frustrated if I left it too late and this tax advantage was removed.

        With regard whether to bother working another 6-12months, the retirement is quite a big step for me, and I was kind of thinking of "winding down" by working some shorter contracts then taking longer breaks. I suppose just trying to make the transition from full time work to retirement a little less final. I also have clients still calling me trying to get me back to help and I genuinely like to help if I can.

        Hence the thought of being able to work via an umbrella company is quite attractive.

        I appreciate this probably sounds like wanting my cake and eating it too. I have around £300k accrued in the Limited Company so I guess you are right, a few extra months may not make that much odds.

        Many Thanks,

        Nick

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