Closing old company / starting a new one

[Lance]

Presumably because his SIC code is changing?

that's the simple answer.

As for the mileage. I just noticed it's (newCO) not going to start till April, when the mileage is reset anyway. Something's not right.

[northernladuk]

Depends if you are going to claim any tax relief if you close the company doesn't it? New rules will be difficult to get around if you do?

[mattfx]

Presumably because his SIC code is changing?

[Lance]

Hi,

I'm thinking of closing down my Ltd company and starting a new one - long story short my business scope is expanding I want to encompass this in a new company.

My current freelance contract expires in April 2018, but will probably be renewed, which is the point at which would begin the new company.

If that goes ahead, would my situation be regarded as a brand new company with a new contract?

Would the mileage allowance be "reset" and could my previous contract history be taken into account in the event of HMRC taking an interest?

For the angry people reading this, I'm waiting for a reply from my accountant but thought I would post here too, to get first hand experience from "local knowledge".

If that offends then it's probably best if you jog on ;-)

Thanks

Only 2 questions identified:
Yes - Assuming you're agent will offer your new company a contract.
No - Mileage allowance is a personal thing. How can you not know this if you're already claiming it?

EDIT: Counter-question.... Why a new LTD? What are you not sharing? It makes no sense.

[MojoDog]

Hi,

I'm thinking of closing down my Ltd company and starting a new one - long story short my business scope is expanding I want to encompass this in a new company.

My current freelance contract expires in April 2018, but will probably be renewed, which is the point at which would begin the new company.

If that goes ahead, would my situation be regarded as a brand new company with a new contract?

Would the mileage allowance be "reset" and could my previous contract history be taken into account in the event of HMRC taking an interest?

For the angry people reading this, I'm waiting for a reply from my accountant but thought I would post here too, to get first hand experience from "local knowledge".

If that offends then it's probably best if you jog on ;-)

Thanks