Hi,
I currently have a contract in Belgium and looks like I will be able to renew for another year so considering setting up a Belgian company to contract through. Given the legislation regarding dividends and T&S coming into effect this April I am seriously considering closing down my UK ltd.
I do have one problem which is that I bought a commercial property in 2013 which is held in the name of the company, rent comes into the company also. The rental income is £12k before maintenance. So my question is should I:
1) Close the company and transfer property to myself as an individual
2) Let the company run and do consultancy through the Belgian company but leave the rental income to gather in the UK company. As the income is quite low, probably not as concerned about the dividend thresholds etc. but seems wasteful to keep it running and paying accounting admin costs for the £12k gross a year.
Many thanks for your help.
I currently have a contract in Belgium and looks like I will be able to renew for another year so considering setting up a Belgian company to contract through. Given the legislation regarding dividends and T&S coming into effect this April I am seriously considering closing down my UK ltd.
I do have one problem which is that I bought a commercial property in 2013 which is held in the name of the company, rent comes into the company also. The rental income is £12k before maintenance. So my question is should I:
1) Close the company and transfer property to myself as an individual
2) Let the company run and do consultancy through the Belgian company but leave the rental income to gather in the UK company. As the income is quite low, probably not as concerned about the dividend thresholds etc. but seems wasteful to keep it running and paying accounting admin costs for the £12k gross a year.
Many thanks for your help.
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