Contractor till I die - last invoice now posted

[doodab]

Although technically I won't be doing much contracting from now on, I won't be going permie either. I'd say that was a life well lived.

Guess I need to wind up the company. Not sure I can just leave it, that's probably irresponsible isn't it.

[suityou01]

Although technically I won't be doing much contracting from now on, I won't be going permie either. I'd say that was a life well lived.

Guess I need to wind up the company. Not sure I can just leave it, that's probably irresponsible isn't it.

This is a problem for another day, Shirley?

[Paddy]

Although technically I won't be doing much contracting from now on, I won't be going permie either. I'd say that was a life well lived.

Guess I need to wind up the company. Not sure I can just leave it, that's probably irresponsible isn't it.

You can keep the Ltd Co and make or dormant

[Platypus]

Presumably YourCo will continue to pay you until it has no money left and of course no corporation tax liability?

EDIT: also note that literally thousands of companies are dissolved by the Gov without paying any tax, simply because they neglect to file accounts:
http://www.accountingweb.co.uk/topic...bn-year/486630

No one would surely do this deliberately in order to avoid corporation tax?

[KentPhilip]

I'd say that was a life well lived.

Are you saying that you are dying?

In which case at least some of the contents of your will should be towards the online community that has sustained you of late

[suityou01]

Are you saying that you are dying?

In which case at least some of the contents of your will should be towards the online community that has sustained you of late

[d000hg]

I can't remember if you have wife/etc you want your estate to go to? You can will the company to them and have the company wind up after the event - in fact any contractor should have this taken into consideration in case of sudden death, although my recollection is that your company is automatically treated this way i.e. shares are passed on rather than the company disappearing into the ether.

It probably depends if you plan to carry on working so that you can leve more in your will and/or afford top-class treatment where money would help, or if you are wealthy enough you can just say "screw it I don't need to work". In that case winding up could make sense - NLUK will probably tell you to search on the Pro forums!

[mudskipper]

This is a problem for another day, Shirley?

Doodab is logical man of action.

Sorting out practicalities is a useful, positive thing he can do, and, from what he's said, preparing for the worst (whilst of course gunning for the best) is a sensible course of action.

Doodab, your accountant should be able to talk you through this (NLUK mode: You have got an accountant, haven't you?) but, on a serious note, it's worth thinking about tax years - there's a new one four months down the line, so might be worth thinking about whether you can start the wheels in motion now but use next year's tax allowance too - you don't want that bastard Hector getting more than he absolutely has to!

[Zippy]

Leave the company as it is for now - you may end up needing it in future.

[Clare@InTouch]

Really sorry to hear your news doodab, I hope things remain as well as possible for as long as possible.

Boring things - the shares would be passed to your next of kin, the same way that shares in Tesco would be. They could then decide what to do with the company, whether to close it or not. Probably a good time to visit a solicitor to see if they can help with any taxes in advance, or have any bright ideas re Trusts etc.