I operated as an engineering contractor on a ltd company basis for a number of years. The last contract I had ended two years ago and since then, due to the oil industry downturn, I have had no further contract work. I have not had any other form of income during this period apart from a very small salary drawn through the company. My question is, am I better to keep the company running and take these salary payments (and dividends as advised by my accountant) or wind up the company ?. My issue is that I keep asking my accountant the same question however I don't feel that he is really making an effort to calculate the best option with regards tax payments, his fees etc. as obviously he wants to retain my business. If anyone can offer advice it would be greatly appreciated. I just want to know which option is the most financially advantageous.
Thanks,
Robin
Thanks,
Robin
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