Entrepreneur Relief vs Liquidation vs Loan

[northernladuk]

I think you'll find it was ESC C16 that was changed to have a limit of £30K in March. ER is still in place.

Quite right thank you. I don't know what I put that. I even googled ESC C16 to find the date!

[panadol]

so to clarify, you had a previous LTD company which you shut down to avoid tax, then set up a phoenix company which you now want to shut down to avoid more tax on the money you are sending abroad?

I really hope hector catches you, i actually really do.

ER wasn't the reason why I shut down the last company. I was closing the company anyway for other reasons, and then learnt about about ER. Was suggested to sort out my accounts before a certain date.

As for moving money abroad as I am planning moving country in the next 12-18 months and need to get prepared with a property ahead of the move. Hence was looking at director loans as an possible option.

Would not try to avoid tax but to find out the efficient way given my situation and to avoid unnecessary complications.

[Maslins]

ER does still exist, though one of the conditions for qualifying is owning the shares at least 1 year, unclear whether you've met that or not.

Transactions in securities rules can catch you out if you're basically repeatedly closing a company to get cash out tax efficiently then starting up Newco doing exactly the same thing. See here for a bit more info.

As it sounds like you'll be staying in the UK for another year or so, I'd suggest you'd be ok closing down your company then...but if you shut one down a year ago, shut this one down now, then start a third one which you shut down in 12 months time, you're very much pushing your luck.

[RockyBalboa]

Has anyone actually gone through MVL? If so, what was your experience?