Hello contractors with UK LTD's,
I have been given the understanding that if you cease to trade a LTD now, use entrepreneurs relief then you cannot open a new LTD with the same business purpose.
I also been told entrepreneurs relief will only exist for this tax year and thereafter any monies taken from closing a company will be subjected to 40%.
Question: what is anyone doing about this? nothing? ceasing to trade? opening a foreign company? leaving the cash in the LTD and dripping it out? don't care and gonna pay the 40%?
I have been given the understanding that if you cease to trade a LTD now, use entrepreneurs relief then you cannot open a new LTD with the same business purpose.
I also been told entrepreneurs relief will only exist for this tax year and thereafter any monies taken from closing a company will be subjected to 40%.
Question: what is anyone doing about this? nothing? ceasing to trade? opening a foreign company? leaving the cash in the LTD and dripping it out? don't care and gonna pay the 40%?
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