I will be travelling the globe for five or six months in a few months time.
So I won't be in the UK to submit returns, run the company etc.
If I apply for ESC16 Capital Gains Tax and pay 10% tax on monies left in business account after corp tax has been paid I would still have enough to buy a flat - cash - no mortgage - which in the long run would save quite a lot (If i just do the usual salary + divs it would take years to get the dosh out so I would need a fair old mortgage)
Am I missing something or is that actually the best thing to do in terms of long term personal wealth? After all, it is a lot of hastle closing your company down and applying for ESC16 etc...
So I won't be in the UK to submit returns, run the company etc.
If I apply for ESC16 Capital Gains Tax and pay 10% tax on monies left in business account after corp tax has been paid I would still have enough to buy a flat - cash - no mortgage - which in the long run would save quite a lot (If i just do the usual salary + divs it would take years to get the dosh out so I would need a fair old mortgage)
Am I missing something or is that actually the best thing to do in terms of long term personal wealth? After all, it is a lot of hastle closing your company down and applying for ESC16 etc...
Comment