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Maslins
Contractor Among Contractors
Last Activity: Today, 08:24
Joined: 25 September 2009
Location: Tunbridge Wells
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  • For me it's all with Interactive Investor, and all then in one Vanguard diversified fund. I just wondered in the situation that either II or Vanguard went bust, would that mean only £85k of my SIPP would be protected? People regularly comment about not having business/personal savings >£85k with...
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  • Assuming you pick a global, diversified fund, is there any harm in having all eggs in one basket? By this I mean both:
    1) having all money in one fund (not spread across several different funds with different providers, like some in a Vanguard one, some in a Blackrock one)?
    ...and also...
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  • Maslins
    replied to Drinks on Lucy???
    That is good news! I've had a few nice chats with Lucy over the last year or so. We've tried to put a few of our (ex) clients that have been pushed into umbrellas Clarity's way...but at least partly cos of lack of FSCA approval (others that the agency/client would only work with a small list of umbrellas)...
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  • FWIW I transferred my SIPP from HL to II perhaps a couple of years ago. It wasn't smooth sailing. The impression I got was that HL were actually pretty good, and II were the ones with the poor customer service.

    I've now got things fairly nicely set up with II, direct debits automated investments...
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  • Sadly that is currently fairly normal. Your liquidator may consider finalising the liquidation without HMRC clearance. Doing so isn't best practice, but in the current circumstances it's not viable to wait forever whilst chasing a department that barely responds.
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  • I think general consensus is the 130% super deduction is mainly aimed at counteracting incentive for big businesses to delay big capital investments. With the main CT rate going up from 19% to 25% in a couple of years, anyone expecting that jump to hit them considering big capital investments might...
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  • Maslins
    replied to MVL with physical assets
    Yes. As you've found out there's not really any need for physical cash to change hands, but there isn't scope to avoid CT/VAT by distributing things in specie instead of selling. VAT you may be able to sidestep by virtue of being below the de minimis when you de-register....
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  • Maslins
    replied to MVL with physical assets
    I'm unsure why you think that's ridiculous? Your company bought some equipment, which it obtained tax relief on. It now no longer needs that equipment, but it still has significant value. It's found someone happy to take it (you), so it sells it on suffering tax on the sales proceeds. You can't legally...
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  • Maslins
    replied to MVL - help please
    For the Qs in your OP:
    1) presumably you're a director? If so, you'd tend to remain one even if you leave the payroll.
    2) yes.
    3) potentially yes, but the liquidator wouldn't get involved until after that was done. Ie you can't appoint a liquidator, then pay a dividend.
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  • I think the changes coming in now you're hearing about on the radio are for construction industry stuff, not relevant to the lion's share of posters on here.

    HMRC were fed up with the little tradespeople contractors working for bigger contractors, stealing the VAT and disappearing. The...
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