Hi,
I've held my Ltd company account which I used for IT contracting for close to 10 years. What is the most tax efficient (but completely legal) way to close this down please?
Others I know in the same situation have accountants who have suggested entrepreneurs relief as they would only then pay 10% tax on whatever is left in the company account after bills are all paid.
My accountant however has said that wouldnt apply as i'm closing the company, not selling it. My accountant has said there would be no tax to pay - but presumably I would have to declare it in some sort of self assessment?
Can anyone help here? Or suggest a company who would do this best for me?
I've held my Ltd company account which I used for IT contracting for close to 10 years. What is the most tax efficient (but completely legal) way to close this down please?
Others I know in the same situation have accountants who have suggested entrepreneurs relief as they would only then pay 10% tax on whatever is left in the company account after bills are all paid.
My accountant however has said that wouldnt apply as i'm closing the company, not selling it. My accountant has said there would be no tax to pay - but presumably I would have to declare it in some sort of self assessment?
Can anyone help here? Or suggest a company who would do this best for me?
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