Settlement, NI and limited company

[Ltdoptions]

If presumably you're the only director, isn't any company / personal settlement all one & the same anyway?

[here4beer]

If presumably you're the only director, isn't any company / personal settlement all one & the same anyway?

No, I assumed that too. Despite a full detailed explanation of my situation with all documents shared, my Letter Of Intent from the Tax Adviser only covers 'personal settlement', not 'complete settlement'. I only found this out half way through the process. Who would only want to only 'partly settle', why is that even an option lol.

[webberg]

The terms of the November 2017 settlement offered by HMRC are very clear when it comes to situations involving you and your limited company.

You can settle everything yourself (and the company owes you money) or you can settle via the company (and perhaps you owe the company money).

I'd be surprised if a professional adviser didn't know that or tried to charge you for a personal AND a company settlement.

[Ltdoptions]

What if you're not the only director? This is my situation. I would be open to settling my personal liability, but I certainly can't afford to settle for the company as a whole.

[webberg]

What if you're not the only director? This is my situation. I would be open to settling my personal liability, but I certainly can't afford to settle for the company as a whole.

Ask HMRC either yourself or via an agent.

I suspect that HMRC would expect you to settle your personal position but not your fellow director/shareholder.

[Ltdoptions]

Yes I registered interest for an individual settlement before the May '18 deadline. STILL waiting for calculations / offer though.