Closing down - capital distribution

[Buckstewerbuck]

I have about 10k in my business acount, so im thinking capital distribution would save me more money if I was to close the company.

can i do this myself? if so, whats steps do i need to take and how long is the whole process.

is it worth it? or shall i just take dividends. I will be a higher rate tax payer.

[Robot]

Is it really 10K? Have you paid the final VAT and PAYE accounts, what about your accountants final bill, what about corporation tax, have you lots of valuable assets in the company? Are you going to be a higher rate taxpayer in the current fiscal year?

Seek professional advice, they may charge the earth but it is worth it.

Can you post up the reply you get from your accountant as some people never want to pay for information

[Mark Snowdon]

esc c.16

Inland revenue extra statuary concession c.16

You have to make a comitment to pay debts etc, and you get to take the cash as a distribution - speak to your tax office

[Robot]

Re: esc c.16

Good bit of free advertising their Buck, now I wonder what your next question and answer will be to advertise you know who.:rollin :rollin :rollin

[fiddleabout]

Strangely enough he doesn't have any links to "you know who" in his profile.

[Buckstewerbuck]

Re: esc c.16

all these conspiracy theories :lol :lol :lol

get colombo on the case

[4Contractors]

well Fiddle = Peter Falk - about the same height and age.