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TAAR - Condition C - Trading before the first distribution

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    TAAR - Condition C - Trading before the first distribution

    My understanding is that the two years from which you're not allowed to trade in a similar trade start from the date of the first distribution.

    If that is the case, does it mean that you could potentially issue an invoice the day before your first distribution and be "fine"?

    I am not planning on invoicing the day before, but I was wondering when the clock starts ticking and if an invoice before the first distribution will be ok. Probably in a sole trader capacity, given that I wouldn't want to mess with the company's accounts.

    #2
    What on earth are you talking about.

    If you are MVLing a company you cannot enter the same trade for 2 years except as an employee.
    merely at clientco for the entertainment

    Comment


      #3
      Originally posted by eek View Post
      What on earth are you talking about.

      If you are MVLing a company you cannot enter the same trade for 2 years except as an employee.
      I think my message is quite clear. I suggest you read it again.

      The two years will have to start from a specific date.

      Comment


        #4
        Given that this seems to be a continuation of your harebrained schemes that you came up with in MVL - entrepreneurs relief and starting new LTD Company (contractoruk.com)

        I stick to my previous point.

        You won't be able to continue work in the same industry for 2 years - and you can't invoice 2 years of work in advance and pretend that's OK.
        merely at clientco for the entertainment

        Comment


          #5
          Originally posted by bcontractor View Post
          I think my message is quite clear. I suggest you read it again.

          The two years will have to start from a specific date.
          it's definitely clear as fooking mud... Or I'm really thick.... or both

          do you mean invoice 2 years and one day after the capital distribution?
          One day before makes no sense as what you do before the capital distribution is immaterial to TAAR.
          See You Next Tuesday

          Comment


            #6
            Originally posted by eek View Post
            Given that this seems to be a continuation of your harebrained schemes that you came up with in MVL - entrepreneurs relief and starting new LTD Company (contractoruk.com)

            I stick to my previous point.

            You won't be able to continue work in the same industry for 2 years - and you can't invoice 2 years of work in advance and pretend that's OK.
            if it's as dumb an idea as I think it might be, then it has worse problems as the payment will be going to bank account that no longer is owned by the business... So really, really dumb.

            FOpscont
            See You Next Tuesday

            Comment


              #7
              You guys need to chill a bit! You read too much into things.

              a) I haven't even started the liquidation process yet.
              b) I might want to complete and invoice for one last bit of trade before the liquidation even starts.
              c) I have no intention of cheating the system

              I am just trying to figure out what is the latest responsible moment to do that. I am not trying to find a way around the legislation.

              Comment


                #8
                Originally posted by bcontractor View Post
                You guys need to chill a bit! You read too much into things.

                a) I haven't even started the liquidation process yet.
                b) I might want to complete and invoice for one last bit of trade before the liquidation even starts.
                c) I have no intention of cheating the system

                I am just trying to figure out what is the latest responsible moment to do that. I am not trying to find a way around the legislation.
                You can't begin liquidation until you've received all the money and paid all the bills.
                merely at clientco for the entertainment

                Comment


                  #9
                  Originally posted by eek View Post
                  Given that this seems to be a continuation of your harebrained schemes that you came up with in MVL - entrepreneurs relief and starting new LTD Company (contractoruk.com)

                  I stick to my previous point.

                  You won't be able to continue work in the same industry for 2 years - and you can't invoice 2 years of work in advance and pretend that's OK.
                  What schemes would I have come up with? I think perhaps you're mixing me with someone else.

                  I have no intention to invoice ANY work in advance.

                  Comment


                    #10
                    Originally posted by bcontractor View Post
                    You guys need to chill a bit! You read too much into things.
                    when there is insufficient information it's quite reasonable to try and read into things



                    Originally posted by bcontractor View Post
                    a) I haven't even started the liquidation process yet.
                    b) I might want to complete and invoice for one last bit of trade before the liquidation even starts.
                    c) I have no intention of cheating the system

                    I am just trying to figure out what is the latest responsible moment to do that. I am not trying to find a way around the legislation.
                    a) yes we know
                    b) good as that's what you must do
                    c) then what is the point of the question?
                    See You Next Tuesday

                    Comment

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