Originally posted by 1manshow
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In an absolute mess with Corporation Tax
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Originally posted by oilboil View PostYou've already told us it was Nationwide so why hide the fact?
As for more established banks, the nationwide is one of the largest financial institutions in the UK and has been trading over 134 years . In 2016, the bank reported total assets of US$276 billion and posted a net income of US$1.3 billion.
This makes them the 5th/6th largest financial institution in the UK - not sure why you would say they are not established
I have raised the issue with the nationwide, call-centre style accountancy firmComment
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Originally posted by barrydidit View PostThat misplaced comma has a lot to answer for
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Originally posted by fiisch View Post...
I don't like things being left in limbo, and I am flirting with the idea of returning to contracting, but it sounds like a winding up order might end up being my best option, although rather perversely, if the company gets wound up and then the FOS finds in my favour, that'll leave me £6k better off, surely?!?!
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If you think using a ltd if you return to contracting is the best way for you (existing changes to public sector and similar potential changes to private sector may mean an umbrella or other payroll option is better than ltd regarding being inside IR35) then you have two main options:
1. Continue with the existing ltd and pay off the corp tax bill with profit from any new contract (or personal loan to Ltd if can get the money privately), while awaiting a decision on whether the £6k will be returned to your company by the bank.
2. Close the old ltd and open a new one. The limited liability of the old one will likely mean the debt dies with the closure, but that's at HMRC's discretion. You would need to close the bank account as part of that winding up process so return of the £6k afterwards would not be possible. I guess the bank would send you a cheque made out to your ltd in absence of an active account with them, but I don't think you would be able to cash it or sign it over to HMRC.Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.Comment
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No, not The Nationwide Bank - “nationwide, call-centre style accountancy form”.
The bank is “GashMinus” - 3.2/10 on TrustPilot and a popular choice for speed/ease of setup.
Thank you for the advice. I’m going to have one final plea with the FOS to look at the case soonest, but it looks like an unethical winding up may be my only option in this case.
Maddening and unfair situation- will contact MP as suggested.Comment
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Originally posted by oilboil View PostIt's my education that is at fault here, I was taught how to use comma's correctly. Unfortunately, I therefore assume everyone else does this too!!!
See You Next TuesdayComment
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I'd suggest you simply wind the company up as insolvent (you have a legal obligation to do that anyway).
It's a limited liability company so HMRC can go whistle.
Unless they can prove you've been negligent, or broken any laws they cannot pursue you personally for the money.See You Next TuesdayComment
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Originally posted by fiisch View PostThe bank is “GashMinus” - 3.2/10 on TrustPilot and a popular choice for speed/ease of setup.
Assume the accountancy firm got a kickback (monies) when they recommended.Comment
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Originally posted by oilboil View PostIt's my education that is at fault here, I was taught how to use comma's correctly. Unfortunately I therefore assume everyone else does this too!!!
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