Closing Company & Returning to Australia

[gadge]

I’ve been working as an IT Contractor with a limited liability company for the last couple of years and have now decided to leave the UK and return to Australia. I don’t plan on returning to the UK within the next seven years.

I’m in the process of winding up the company and having the final accounts prepared, paying the final Corporation Tax… etc

Basically, I’m concerned that if an audit of the company’s accounts leads to queries or an investigation, I could be up for a significant amount of money (£) in accountancy fees to sort it out.

Does anyone have any experience of how the IRD handles situations like this; where the company is closed and the IRD has queries of a Director who no longer lives in the UK?

[SandyDown]

ask rebccaloo ...thought she is a kiwi I think she is the best authority on this

[gadge]

Thanks for the reply SandyDown. I searched for rebccaloo but couln't find a match. Do you have any other contact details I could use?

[rebekkaloos]

Thank you Sandy but I don't think I am an authority in how to leave the UK with a clean bill of health passed by the IR!

Have you got reason to suspect that an IR investigation might uncover irregularities in your accounts? If you've done everything by the book and you think your IR35 and S660A situations are OK, then I don't think you have much to fear.

If , on the other hand, you think that an audit of the company's accounts would lead to investigations whose conclusion will not be favourable to you, then my suggestion would be to go back to Oz without leaving a forwarding address.... you'll be safe there from the greasy paws of GB's henchmen...

[rootsnall]

I've done it in reverse after a long spell in Oz and I left a valid UK forwarding address with the Oz tax people for peace of mind. One issue did come up that I dealt with without too much aggro and I'm glad I knew what was going on rather then a letter landing at a long dead address in Sydney. I did it to leave my options open, if I'd no intention of ever returning maybe I'd of just legged it.

[swamp]

Ensure YouCo Ltd is registered to a backpackers somewhere in Earls Court, do not pay any income tax or VAT or your last month's accountancy fees, and shred everything apart from your company's VISA debit card before you leave the country. Withdraw all your money in daily batches of $AUS 500 tax free from your local ATM.

And do not return to the UK!