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Reply to: TAAR - Condition C and going perm
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Previously on "TAAR - Condition C and going perm"
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Further to what's been said, check Condition D. You aren't closing the company to gain a tax advantage, you are closing it because you aren't using it anymore, and haven't been for a while. That should put you in the clear anyway.
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See my post earlier today for the arguments to use
https://www.contractoruk.com/forums/...ml#post2718940
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You won't be in same trade. You were an IT consultant/director, now you are a perm employee. SortedLast edited by northernladuk; 21 January 2020, 19:50.
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Originally posted by ahspooner View PostJust wondering, I've been back in perm land for a couple of years now, and just about to start off the MVL process ,but condition C of the TAAR rules lept out at me
"Condition C: the individual receiving the distribution continues to carry on, or be involved with, the same or similar trade or activity as that of the distributing company at any time within two years of the distribution"
Even though I'm not setting up a new company myself , but im in effect carrying out the same activity, albeit with another employer, could this still be prone to TAAR ?
Im guessing that this comes back to the intent of the MVL, ,i.e. was the intent to leverage tax gains or where you closing the business down as you had no need for it anymore . In my mind I'm operating with the latter in mind.
Interested to know people's thoughts on this
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TAAR - Condition C and going perm
Just wondering, I've been back in perm land for a couple of years now, and just about to start off the MVL process ,but condition C of the TAAR rules lept out at me
"Condition C: the individual receiving the distribution continues to carry on, or be involved with, the same or similar trade or activity as that of the distributing company at any time within two years of the distribution"
Even though I'm not setting up a new company myself , but im in effect carrying out the same activity, albeit with another employer, could this still be prone to TAAR ?
Im guessing that this comes back to the intent of the MVL, ,i.e. was the intent to leverage tax gains or where you closing the business down as you had no need for it anymore . In my mind I'm operating with the latter in mind.
Interested to know people's thoughts on thisTags: None
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