Hi,
I have got a new 6 month contract, which will end in April 2009. I will be working through a limited company. As I have been permanent so far this financial year, my dividends will fall mostly in the higher rate band, hence I dont want to extract too much dividend this financial year.
Now, I have 2 questions:
1) Suppose I leave the UK after this contract in Apr 2009, and move to live and work in India, then next financial year (2009-2010), I will have no salaried earnings in UK. Can I take my surplus company cash as dividends during that financial year, without having to pay any tax?
2) If I leave the company dormant from April 2009 to Oct 2010, and then plan to close the company (i.e. after 2 years of existence), will I be eligible for Entrepreneurs' Relief, and take out the company cash as capital gain taxed at 10%?
Any help will highly appreciated.
Thanks.
I have got a new 6 month contract, which will end in April 2009. I will be working through a limited company. As I have been permanent so far this financial year, my dividends will fall mostly in the higher rate band, hence I dont want to extract too much dividend this financial year.
Now, I have 2 questions:
1) Suppose I leave the UK after this contract in Apr 2009, and move to live and work in India, then next financial year (2009-2010), I will have no salaried earnings in UK. Can I take my surplus company cash as dividends during that financial year, without having to pay any tax?
2) If I leave the company dormant from April 2009 to Oct 2010, and then plan to close the company (i.e. after 2 years of existence), will I be eligible for Entrepreneurs' Relief, and take out the company cash as capital gain taxed at 10%?
Any help will highly appreciated.
Thanks.
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