Hi,
I have liquidated my business in Mar-21.
I had 2 distributions:
1. 01-Mar-21: 95% of funds
2. 01-Jun-21: 5% of funds
I know that if I have opened a ltd company in same trade as last one prior to 01-Mar-23 then I would have fallen into TAAR and may become liable for additional tax. Now that I have passed 01-Mar-23, do you think I can open ltd company again without falling under TAAR? If I open ltd company again now and become liable under TAAR, would it be for all the distribution or just the one on 01-Jun-21? Could HMRC ask for tax on Mar-21 distribution under TAAR?
Thanks.
I have liquidated my business in Mar-21.
I had 2 distributions:
1. 01-Mar-21: 95% of funds
2. 01-Jun-21: 5% of funds
I know that if I have opened a ltd company in same trade as last one prior to 01-Mar-23 then I would have fallen into TAAR and may become liable for additional tax. Now that I have passed 01-Mar-23, do you think I can open ltd company again without falling under TAAR? If I open ltd company again now and become liable under TAAR, would it be for all the distribution or just the one on 01-Jun-21? Could HMRC ask for tax on Mar-21 distribution under TAAR?
Thanks.
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