Letting HMRC wind up company

[TestMangler]

a limitless fine and / or imprisonment for up to 7 years.

That would mean he wouldn't have to work for the best part of a decade.

[Sockpuppet]

Not all my money is in my company account, just thought this was a way to avoid some tax.

In which case the company would pay the outstanding. If you withdrawn £100k from the company account a month before you close it down pleading poverty I'd expect a swift visit from HMRC who will take great delight in trying to ruin you financially.

You'll then probably get sent to the big house where someone names Leon will take great delight in ruining you in a different way.

[stek]

Depends on their standard of living I suppose! He could be sitting in a cold, damp bedsit above a kebab shop, which has been provided FOC by one of his mates.

I was thinking 'decades' to mean two or three, Let's assume 'not need to work' means from that he means he could draw £25k a year, means he must have between £500k and £750k in the bank, I'm sure a decent broker could invest that and the OP live off the results.

On the other hand, I could be completely wrong!

[geoff from contracta IOM]

I was thinking 'decades' to mean two or three, Let's assume 'not need to work' means from that he means he could draw £25k a year, means he must have between £500k and £750k in the bank, I'm sure a decent broker could lose that and the broker live off the fees.

On the other hand, I could be completely wrong!

FTFY