Originally posted by northernladuk
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Previously on "Informal closure or voluntary liquidation?"
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Originally posted by bob52 View PostNot sure what was missing? My accountant hasn't suggested it can be spread over two years and said my capital gains allowance can only be used in one go.
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Originally posted by northernladuk View PostDon't you just love it when key pieces of information are trickled out bit buy bit when trying to help people... Not.
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Originally posted by bob52 View PostThanks, I'm a higher rate tax payer.
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Originally posted by jamesbrown View PostFor such a small amount, I would take a dividend of 15k and then wind up without mvl. You might save something if you’re a higher or further rate taxpayer, but remember the mvl fees will be around 2k. We cannot comment on the specifics because it requires information about your personal circs (e.g., tax bracket, whether you can distribute across two years etc.), but your accountant is probably correct.
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For such a small amount, I would take a dividend of 15k and then wind up without mvl. You might save something if you’re a higher or further rate taxpayer, but remember the mvl fees will be around 2k. We cannot comment on the specifics because it requires information about your personal circs (e.g., tax bracket, whether you can distribute across two years etc.), but your accountant is probably correct.
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Originally posted by bob52 View PostCurrently in the process of closing my account and due to the £35k profit it seems that either voluntary liquidation or informal closure would cost about the same in tax/fees. Does anyone have any recommendations on the best route to take based on this amount?
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Informal closure or voluntary liquidation?
Currently in the process of closing my account and due to the £35k profit it seems that either voluntary liquidation or informal closure would cost about the same in tax/fees. Does anyone have any recommendations on the best route to take based on this amount?Tags: None
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