MVL and Ltd Company to Umbrella ?

[NickX]

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.

[Maslins]

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?

[NickX]

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