MVL - entrepreneurs relief and starting new LTD Company

[Paralytic]

I do not control my own wind in the house. HMRC can see that my wife is in total control of my life and everything I'm allowed to do.

Ok, go ahead then, I'm sure HMRC will accept such evidence from your wife

[Lance]

Ok, When I say forced I mean it was the option between going PAYE or not having any income. The client terminated the contract with my company and offered me a job, take it or leave it.

FTFY

What if say my wife setup the new LTD company? Noting that she is a minority shareholder in the old one and benefiting from distribution.

Really? What do you think?
Why would a TAAR rule apply only to the majority shareholder?

[jamesbrown]

No, your wife fails the connected person element of the TAAR. Suck it up and stop trying to evade the tax you properly owe.

[GhostofTarbera]

No chance - HMRC "look through" such scam arrangements and would easily see that you're a controlling entity in the new Ltd. This one is as transparent as it gets.

What if he gets a mustache ?


https://twitter.com/barronjohn1946/s...786200064?s=21




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[northernladuk]

I'd imagine if you were forced inside 35 then you were inside all along so better you let the Ltd die and avoid being low hanging fruit for HMRC.

I called this situation Re shutting companies without thinking properly last year when we got the raft of questions from short sighted greedy people wanting their chunk of cash but not thinking beyond the end of their noses. People were gonna get caught out and there is no coming back. You MVL so you are done for two years. No fiddles or magic beans for this one. Guess it sorts the contractors out from the rest.

[luxCon]

I'd imagine if you were forced inside 35 then you were inside all along so better you let the Ltd die and avoid being low hanging fruit for HMRC.

I called this situation Re shutting companies without thinking properly last year when we got the raft of questions from short sighted greedy people wanting their chunk of cash but not thinking beyond the end of their noses. People were gonna get caught out and there is no coming back. You MVL so you are done for two years. No fiddles or magic beans for this one. Guess it sorts the contractors out from the rest.

Northernlad, you seem to know everything. What if I collected all the invoices, and sent them all a day after the 2 years?? Wil that do the trick?

[northernladuk]

Northernlad, you seem to know everything. What if I collected all the invoices, and sent them all a day after the 2 years?? Wil that do the trick?

What on earth are you talking about?

[Lance]

Northernlad, you seem to know everything. What if I collected all the invoices, and sent them all a day after the 2 years?? Wil that do the trick?

Why not just get them to pay straight into your personal bank account. Then after two years open up a company with that money as starting capital? that makes as much sense as your suggestion

[Paralytic]

What if he gets a mustache ?


https://twitter.com/barronjohn1946/s...786200064?s=21

More chance of his wife getting a moustache than any of his harebrained ideas working (including the latest deferred-invoices one).

[Paralytic]

Northernlad, you seem to know everything.

What on earth are you talking about?

I'm *very* confused about that too....