Ltd co - how often to close?

[scooby]

Wohoo!! back to the dark side after 12mths perm (wasnt for me, and i know better now!!)

MyCo has been sat doing nothing since Sept last year, and i know some people close their MyCo regularly. Is there any benefit to doing this? or should i just back under my old name which now has 3yrs history?

Cheers,
Scooby

[northernladuk]

From what I see on here the main benefits perceived in doing so are to withdraw fund cheap using Entrepreneurs relief or to get rid of a mess they caused and start again.

The relief is not designed to help you withdraw money out of your company and avoid tax so can't be doing this too regularly and I believe is getting canned soon. Closing a company to avoid a mess doesn't always work either depending on the mess you created.

Closing and starting again after a number of years once in a blue moon is perfectly reasonable as your circumstances may have changed, type of business whatever.

If you have a perfectly good business with bank/accountants etc all set up why would you want to close it and go through that hassle again?

[northernladuk]

Oh and welcome back. I thought Permie land was the darkside but anyway.. Hope you got some good training out if and are going to reap the rewards!!!!

[scooby]

Oh and welcome back. I thought Permie land was the darkside but anyway.. Hope you got some good training out if and are going to reap the rewards!!!!

no training unfortunately, but a step up as a programme manager and a rate increase of about 35% compared to last one!

[VirtualMonkey]

no training unfortunately, but a step up as a programme manager and a rate increase of about 35% compared to last one!

Good stuff.....must be one of the few reasons to jump back to permiedom.
I'm doing the same...back into permiedom to see if I can't get TOGAF sorted and to try and make a move to enterprise architecture frmo solutions/technical architecture. Future rate rise ahoy