selling my company shares and closing shop, at least for a while

[Crossroads]

Hmm.. A warchest of something like £300k would see around £245k extracted versus £265k-£270kish via an MVL. If any risk can somehow be mitigated I can see the attraction if it sidesteps the 2 year MVL 'issue'. Surely a risk of it being seen as the bad kind of avoidance though...

[arby]

!0% of retained profits? Maslin's who post here have a company that will do it for £995+VAT Members Voluntary Liquidation | MVL Online®

But it's not an MVL - it's a sale of the company.

[arby]

If it were that clever it would be standard advice that's well documented and everyone would be doing it surely?

In theory this mechanism has only been needed since the advent of the anti-phoenixing rules of April 2016.

[jamesbrown]

In theory this mechanism has only been needed since the advent of the anti-phoenixing rules of April 2016.

The TiS legislation has been around for years. The most important change in 2016 was simply to clarify the time period as being 2yrs. If you were engaged in phoenixing prior to these changes, you'd still have been in trouble. Now, we at least have a little more clarity on the time period.

[bmb]

This sounds like the inTouch thing, although they were offering it for people with much larger reserves than 35K. I don't know the details as I decided it was outside my risk/comfort zone, but they were offering to buy for 90% of the value.

Hi Fanny. Interesting hearing this is an "inTouch thing". How did they make you aware about this? I can't see anything on their website? I am currently with Nixon Williams and thinking of switching to them

[bmb]

In theory this mechanism has only been needed since the advent of the anti-phoenixing rules of April 2016.

Arby - did you go ahead with this in the end?

[craigy1874]

Surely this transaction will be caught by GAAR, it is a totally tax motivated transaction.