I'm looking for some advice on closing my LTD company to go perm.
I emailed my accountant for the best course of action in closing my company to ensure I keep as much as possible.
I'll have around 95k in the company account by the time I close so was thinking it would go down the MVL route.
The accountant came back to say the rules around the TAAR legislation and same business activity haven't been specified whether it solely relates to setting up another LTD or whether it includes perm work too so I could be at high risk of HMRC disallowing this.
Is this the case?
From what I've read on these forums and online, an MVL seems to be the way to go when you've got a good bit over 25k and are moving from contracting to perm.
Using the working example found here - https://www.crunch.co.uk/knowledge-t...nd%20directors - It looks like the difference in around the amount I would have is about 12k, albeit I'd push a good bit into my pension if I was going down the non-MVL route, so it could cost a fair bit choosing the wrong method here
I emailed my accountant for the best course of action in closing my company to ensure I keep as much as possible.
I'll have around 95k in the company account by the time I close so was thinking it would go down the MVL route.
The accountant came back to say the rules around the TAAR legislation and same business activity haven't been specified whether it solely relates to setting up another LTD or whether it includes perm work too so I could be at high risk of HMRC disallowing this.
Is this the case?
From what I've read on these forums and online, an MVL seems to be the way to go when you've got a good bit over 25k and are moving from contracting to perm.
Using the working example found here - https://www.crunch.co.uk/knowledge-t...nd%20directors - It looks like the difference in around the amount I would have is about 12k, albeit I'd push a good bit into my pension if I was going down the non-MVL route, so it could cost a fair bit choosing the wrong method here
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