Change of trade and Transactions in securities conundrum

[Maslins]

Re the OP generally, my personal thoughts would coincide with jamesbrown.

Re clearance, I'd suggest it's unlikely there have been (m)any re TiS on liquidation. Perhaps your situation isn't the most common one raised on this contractor forum...more commonly it's someone contracting for X years, gets offered a permie role, takes it, then 1-12 months later gets offered another contract. In those situations, surely the sole reason you're closing is that you DON'T anticipate contracting again (or at least you'll want to argue that's the case)...so doing a clearance request would be daft.

Appreciate your case is a little different, but I still feel that with something like this if you're asking in advance, to my mind it suggests you know you're at risk. Some would argue that's the risk with clearance requests more generally, you're basically flagging your case to HMRC as one that you accept yourself is borderline.

[MrC]

Appreciate your case is a little different, but I still feel that with something like this if you're asking in advance, to my mind it suggests you know you're at risk. Some would argue that's the risk with clearance requests more generally, you're basically flagging your case to HMRC as one that you accept yourself is borderline.

Some useful points Maslin.
Yes it's clear there is a risk but I don't agree that requesting clearance means it's perceived as borderline.

All you can say of someone requesting clearance is that they do not know how hmrc will rule on what is rather vague case law that is wide open to interpretation and they would like to know before acting.

I guess a lot of it comes down to need for certainty and risk adversity. A steady eddy might prefer the certainty of knowing the outcome that clearance affords while being willing to take the hit on increased likelihood of decline. A risky Rick might prefer to gamble the certainty for likely better financial outcome.

Anyone else know if penalties are further payable should it be ruled as a TIS?