7 month holiday/Leave

[Alan @ BroomeAffinity]

Seven weeks should give you plenty of time to bring VAT / PAYE / NIC up to date. Before the company can be closed down you need a waiting period of (I think) 3 weeks. You accountant should be able to deal with the closure of the business in your absence. The company needs to be still open for you to withdraw the capital anyway.

[TheFaQQer]

Depends how long you've had the company, though. I think you can only shut it down and take the relief if it's been trading more than two years.

[rootsnall]

Sounds like an idea, although I’ve only got 7 weeks left before I leave. Would this be enough time to sort out all my payments for VAT & TAX before I leave.

Im sure if I spoke to my accountant about the idea, probably advise not to close and to keep me on there books for business.

If I decided close the Co, Should I keep paying an accountant in case other issues arise further down the line, TAX & VAT….or is that all sorted out when closing down the Co ?

Should be sortable but if not leave a forwarding address in the UK ( family member ? ) and a few cheques to sort things. My mum can forge my signature pretty well ! It's a lot easier these days with internet cafes the world over and cheapo phone calls from most countries if there is a panic. You have to trust your accountant to make sure any issues are dealt with or atleast forwarded !

ps. where are you off to ?

[TheFaQQer]

Should be sortable but if not leave a forwarding address in the UK ( family member ? ) and a few cheques to sort things. My mum can forge my signature pretty well ! It's a lot easier these days with internet cafes the world over and cheapo phone calls from most countries if there is a panic. You have to trust your accountant to make sure any issues are dealt with or atleast forwarded !

ps. where are you off to ?

I'll do it for you - just send me a few signed cheques and I'll make sure that the accounts are all empty when the company is closed.

[Duke]

Yeah, company has only been trading for a year, so I guess I would’nt really benefit from taper relief.

I’ll have a word to my accountant again, see if the advice will be of any use. Seems like last few months I’ve got most of my tax/legal questions answered by just reading through these forums. Not to impressed with my accountant at SJD, always getting late replies with the bear minimum in advice to questions. Very close asking to change accountants within SJD or just find a more personal accountant with decent advice and pay more.

‘ps. where are you off to ?’

Backpacking it through South America, NZ, Aus, Thailand, Cambodia, Vietnam, China & South Africa for wedding where I’m originally from. I always wanted to take minimum of 6 months out to see the world before I turned 30 and being tied down with mortgage & kids. Just made it in time with my age although im sure kids will follow very soon after returning.

[rootsnall]

Backpacking it through South America, NZ, Aus, Thailand, Cambodia, Vietnam, China & South Africa for wedding where I’m originally from. I always wanted to take minimum of 6 months out to see the world before I turned 30 and being tied down with mortgage & kids. Just made it in time with my age although im sure kids will follow very soon after returning.

I'm a bit jealous, I did that exact route over a 7 month period as far as Vietnam a few years back. It was the last time I escaped, tied down with kiddie winks now !