Opening New limited company

[mike78]

I was having a limited company with my Brother. I was not having voting right and holding less than 10% share.
I sold my share to my brother and resigned as director in Dec2020.
My brother liquidate the company recently and will claim ER.

If I open new limited company in UK on my sole name. would that be issue for my brother to claim ER ?
Any other issue which I have missed ?


Regards

[ladymuck]

I was having a limited company with my Brother. I was not having voting right and holding less than 10% share.
I sold my share to my brother and resigned as director in Dec2020.
My brother liquidate the company recently and will claim ER.

If I open new limited company in UK. would that be issue for my brother to claim ER ?
Any other issue which I have missed ?


Regards

Is your brother going to be part of the new company? Are the pair of you essentially phoenxing but changing who has significant control in order to max out tax reliefs?

[mike78]

Is your brother going to be part of the new company? Are the pair of you essentially phoenxing but changing who has significant control in order to max out tax reliefs?

He won't be part of the new company.

[Lance]

I was having a limited company with my Brother. I was not having voting right and holding less than 10% share.
I sold my share to my brother and resigned as director in Dec2020.
My brother liquidate the company recently and will claim ER.

If I open new limited company in UK. would that be issue for my brother to claim ER ?
Any other issue which I have missed ?


Regards

I don't see why it would be an issue. You had no stake in the company when it was liquidated.
Whether your brother is entitled to ER is a different question, but not related to you starting a new company.

(unless this some complicated wheeze to avoid tax, but given the facts as stated it should be fine IMO)

IANAL

[northernladuk]

I was having a limited company with my Brother. I was not having voting right and holding less than 10% share.
I sold my share to my brother and resigned as director in Dec2020.
My brother liquidate the company recently and will claim ER.

If I open new limited company in UK on my sole name. would that be issue for my brother to claim ER ?
Any other issue which I have missed ?


Regards

No. Why on earth would it?

Whether your brother is entitled to ER is a different question, but not related to you starting a new company.

I've got a feeling we really don't want to be going there.