Hello!
I wanted some advice regarding closing the limited company I get a standoffish feeling from my accountant , so wanted to verify a few things.
So my situation is as , i have about 50K pot in the company bank account. In Feb , I've moved to a permanent position. Hopefully in a couple of months , I will "attempt" to buy a house , so it would be nice to have some access to the cash in case tulips hit the fan. With perm salary pushing me over the 45K bracket easily, any withdrawals will face a 32% burn.
- As per my accountant, if i close the company, i will never be able to open another one with the same business again. So nothing regarding the possibility of a 2 year grace period to start another one. Has anything changed recently to warrant this?
Will i go back to contracting? I honestly do not know. I would be happy to ride the umbrella for a phase if i have to , but the question being , is it possible to open one about two years down the line after one gets liquidated.
- Does having a income now affect anything the MVL will return to me ( Asked the accountant the same , awaiting reply , so jumping the gun on this one)
Cheers!
I wanted some advice regarding closing the limited company I get a standoffish feeling from my accountant , so wanted to verify a few things.
So my situation is as , i have about 50K pot in the company bank account. In Feb , I've moved to a permanent position. Hopefully in a couple of months , I will "attempt" to buy a house , so it would be nice to have some access to the cash in case tulips hit the fan. With perm salary pushing me over the 45K bracket easily, any withdrawals will face a 32% burn.
- As per my accountant, if i close the company, i will never be able to open another one with the same business again. So nothing regarding the possibility of a 2 year grace period to start another one. Has anything changed recently to warrant this?
Will i go back to contracting? I honestly do not know. I would be happy to ride the umbrella for a phase if i have to , but the question being , is it possible to open one about two years down the line after one gets liquidated.
- Does having a income now affect anything the MVL will return to me ( Asked the accountant the same , awaiting reply , so jumping the gun on this one)
Cheers!
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