Selling ltd co

[jamesbrown]

Thanks for the info.



The company who approached me seems legit, ie they have an address and website

Given the IR35 status coming in effect in April, I thought rather than closing my ltd co down, selling would be "free money".

I mean, it's not free money. It's still taxable. But you could claim ER. But then, you might be able to MVL anyway.

[simes]

I get these all the time.

Are they not just fishing around for likely investments with little or no knowledge of what the company actually does? If you were to engage in a conversation, they would quickly close it down because the company, as ours in the majority tend to be, are of little value over and above the assets and bank funds.

Any company value based on formula involving turnover and profit would not apply here.

[Maslins]

I get these all the time.

Are they not just fishing around for likely investments with little or no knowledge of what the company actually does? If you were to engage in a conversation, they would quickly close it down because the company, as ours in the majority tend to be, are of little value over and above the assets and bank funds.

Any company value based on formula involving turnover and profit would not apply here.

The above would be my thoughts. It doesn't cost much to send out a load of letters.

Every now and then they'll come across someone who is interested and underestimates the value of their company/they can talk down to a low figure relative to net assets.

Bin it would be my suggestion.

[smileyface]

I mean, it's not free money. It's still taxable. But you could claim ER. But then, you might be able to MVL anyway.

It's "free" in the sense closing down gets me nothing (other than what's in the bank) whereas selling should get in something on top of what's in the bank!

[jamesbrown]

It's "free" in the sense closing down gets me nothing (other than what's in the bank) whereas selling should get in something on top of what's in the bank!

Yeah, but I think we both know that free money in that sense doesn't exist, hence all the earlier responses.

[smileyface]

Yeah, but I think we both know that free money in that sense doesn't exist, hence all the earlier responses.

I know. Just hoping it's something like the dotcom era, when there were stories of people paying millions for a website

[Cirrus]

Why would anyone be interested in purchasing my ltd co?

Because at this point they don't know it is completely worthless.

We do

[simes]

I know. Just hoping it's something like the dotcom era, when there were stories of people paying millions for a website

A website even at that time would still have concurrent customers, turnover, clearly in that era no profit, maybe an IP, hopefully a big name.

A very difficult time to value companies when compared to how the Dragons' Den clearly state how They would wish a company to be valued.

But, still no.

[Cirrus]

Contractors aren't businesses, as we all know.

The Revenue could do IR35 just by saying "Show if your company is worth more than the sum of its tangible assets". I might give them a call.