New company formation or continue with existing

[Guesstimator]

Hello all again.
In the light of my previous thread (new outside contract) I've been pondering whether there's anything to be gained in terms of peace of mind in setting up a new company to run this through while I close down my existing one, which is always running the exposure of investigation. I've no reason to believe I've done anything wrong, and there's no phoenixing going on, it's perfectly solvent, I'm just wanting to think about the ramifications of drawing a line under things. I've had all contracts reviewed, working practices I'm comfortable are 100% defensible and insurances in place.

I know the act of closing a company in itself raises a flag, but until last week that's what I'd intended to do. Close it, resign to inside/perm status.

Anyone have any insights into how stupid this would be?

[northernladuk]

Do you need to MVL it? You got less thank 50k in it? Details details.

[Guesstimator]

So many questions, you're worse than my accountant!

More than 50k yeah, though I can dump a significant chunk into pension so I think I could probably get to under 25k...maybe.

[northernladuk]

I wouldn't bother. Chance of anything historic vs possible attention or me screwing it I'd just keep it. Although you do need to think about tax planning for the next time you think of closing and might need to MVL. I'd have a chat to your accountant and see where it might be this time next year.