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Previously on "TAAR - Condition C - Trading before the first distribution"

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  • NotAllThere
    replied
    No further purpose to continuing this thread.

    Leave a comment:


  • Lance
    replied
    Originally posted by luxCon View Post
    Oh, so these people who reply back are professionals?? It wasn't very clear this is a Professional only forum, maybe mods can edit the title.


    So maybe you people should introduce your areas of profession, that would be helpful
    now you're just being rude.

    You have received nothing but good advice. It has been delivered bluntly, and the more foolish you became the blunter the advice became. So what!

    If we treated you with total politeness and respect, other people might come here and think you had something useful to say.
    As others have said. If you don't know something with at least a modicum of competence then pose it as a question not a fact. We tend not to be too mean at the first ask of a dumb question.


    And yes I'm just as blunt in person.

    Leave a comment:


  • ladymuck
    replied
    Originally posted by eek View Post
    If you know that you aren't 100% (or at least 80%) sure about what you are talking about, why post it in a professional forum?
    Harsh!

    Leave a comment:


  • northernladuk
    replied
    Originally posted by eek View Post
    If you know that you aren't 100% (or at least 80%) sure about what you are talking about, why post it in a professional forum?
    Erm.. I best be closing my account then.

    Leave a comment:


  • luxCon
    replied
    Originally posted by eek View Post
    If you know that you aren't 100% (or at least 80%) sure about what you are talking about, why post it in a professional forum?


    Oh, so these people who reply back are professionals?? It wasn't very clear this is a Professional only forum, maybe mods can edit the title.


    So maybe you people should introduce your areas of profession, that would be helpful

    Leave a comment:


  • jamesbrown
    replied
    Originally posted by eek View Post
    If you know that you aren't 100% (or at least 80%) sure about what you are talking about, why post it in a professional forum?
    Exactly. It's OK to ask questions, it's OK to be wrong, but speculation doesn't help anyone.

    Leave a comment:


  • eek
    replied
    Originally posted by luxCon View Post
    If you care to read the post properly I qualified my comment with a "... the way I understand it is the difference..."

    I did not present it as a fact to rely on, and am happy to be corrected. After all thats the point of having posts on such forums
    If you know that you aren't 100% (or at least 80%) sure about what you are talking about, why post it in a professional forum?

    Leave a comment:


  • luxCon
    replied
    Originally posted by northernladuk View Post
    For sure. Bit like this guy for example? https://www.contractoruk.com/forums/...ml#post2851394
    If you care to read the post properly I qualified my comment with a "... the way I understand it is the difference..."

    I did not present it as a fact to rely on, and am happy to be corrected. After all thats the point of having posts on such forums

    Leave a comment:


  • northernladuk
    replied
    Originally posted by luxCon View Post
    There are definitely a handful of individuals on here do pass on opinion and advice as facts without knowing what they are talking about.
    For sure. Bit like this guy for example? https://www.contractoruk.com/forums/...ml#post2851394

    Leave a comment:


  • luxCon
    replied
    Originally posted by bcontractor View Post
    What a welcoming environment!

    I haven't invoiced a thing since April last year. I have been on permanent employment. Except for preparing the accounts the company is dead. I will start the liquidation process next month.

    There is a small piece of work, which probably wouldn't even be considered similar trade, which I'd quite like to do outside of the LTD in the next few days.

    Because I want to do the right thing, I was just trying to better understand where that would leave me. I'd rather not do the work if it meant hitting TAAR, but I would equally be happy to do it if it doesn't.
    There are definitely a handful of individuals on here do pass on opinion and advice as facts without knowing what they are talking about.

    In order to start your MVL you need to have submitted all invoices, paid all liabilities and finalised & submitted your final accounts.

    Different liquidator firms would deal with you at different stages however before you get any distributions, all invoices and and outstanding liabilities need to have been sorted. This includes your Corp Tax to HMRC.

    I think you have a better chance of getting sensible answers from an actual liquidator, and not a cheap and cheerful types, but a more general practitioner. Find a couple and call them.

    Leave a comment:


  • northernladuk
    replied
    Originally posted by bcontractor View Post
    You guys need to chill a bit! You read too much into things.

    a) I haven't even started the liquidation process yet.
    b) I might want to complete and invoice for one last bit of trade before the liquidation even starts.
    c) I have no intention of cheating the system

    I am just trying to figure out what is the latest responsible moment to do that. I am not trying to find a way around the legislation.
    It's the moment you've given your kids, your dog and your deceased father in law a directorship and shares in the company.

    HTH

    Leave a comment:


  • ChimpMaster
    replied
    Your aim has been to liquidate before any potential tax changes come into play in April.

    Don't risk your primary objective over one last hurrah. It's not worth a few more £k in the bank if it could end up costing you much more in additional taxes.

    FWIW, my opinion is now that I do not expect changes to BADR this April, and also not to CGT. There is some noise being made about tax changes being postponed until Autumn. But if I was in a position to liquidate now, then I would do it and I would most certainly take on a quick job at the risk of missing this FY's deadline.

    Leave a comment:


  • Lance
    replied
    Originally posted by bcontractor View Post
    What a welcoming environment!

    I haven't invoiced a thing since April last year. I have been on permanent employment. Except for preparing the accounts the company is dead. I will start the liquidation process next month.

    There is a small piece of work, which probably wouldn't even be considered similar trade, which I'd quite like to do outside of the LTD in the next few days.

    Because I want to do the right thing, I was just trying to better understand where that would leave me. I'd rather not do the work if it meant hitting TAAR, but I would equally be happy to do it if it doesn't.
    Really confused now.
    You have a LTD. You have some work. Do the work. Then carry on and liquidate once finished.

    What is your question exactly?

    Leave a comment:


  • bcontractor
    replied
    Originally posted by jamesbrown View Post
    You're making no sense. The MVL process is a voluntary/solvent winding up process. Winding up means ceasing trading, so that the company's affairs can be put in order, so that the distributions can be made...

    I think you need to stop trolling the professional forums with pointless posts.
    What a welcoming environment!

    I haven't invoiced a thing since April last year. I have been on permanent employment. Except for preparing the accounts the company is dead. I will start the liquidation process next month.

    There is a small piece of work, which probably wouldn't even be considered similar trade, which I'd quite like to do outside of the LTD in the next few days.

    Because I want to do the right thing, I was just trying to better understand where that would leave me. I'd rather not do the work if it meant hitting TAAR, but I would equally be happy to do it if it doesn't.

    Leave a comment:


  • jamesbrown
    replied
    You're making no sense. The MVL process is a voluntary/solvent winding up process. Winding up means ceasing trading, so that the company's affairs can be put in order, so that the distributions can be made...

    I think you need to stop trolling the professional forums with pointless posts.

    Leave a comment:

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