Starting a new LTD company

[Lance]

As long as you didn't gain any tax advantage through closing then just fill your boots.

Is the anti phoenixing (TAAR) rules you are wary of? This is only relevant for capital gains following a liquidation which you didn't do.

TAAR does not apply to strike offs.
Striking off a company - RossMartin.co.uk

[bootham]

Thanks. I am going ahead with setting up new company.
i did close my previous company as per accountant's advice. No tax avoidance.

[jamesbrown]

Perhaps you should start a new accountant too?

[northernladuk]

When I spoke to new accountant to set up new LTD company, she said I should talk to HMRC to check if I am liable to any tax. That's what I am worried about.

Seems a very odd thing to say if taken at face value. If the old company is closed then it's done. I suspect she said more than that but either way. If you've closed the old one properly and didn't take a tax advantge then you are in the clear.

[bootham]

Thanks for replying.

When I spoke to new accountant to set up new LTD company, she said I should talk to HMRC to check if I am liable to any tax. That's what I am worried about.

She also said I won't get benefit of Entrepreneur relief If I want to close new limited company later on. I am not concerned about this point of time.

[northernladuk]

As long as you didn't gain any tax advantage through closing then just fill your boots.

Is the anti phoenixing (TAAR) rules you are wary of? This is only relevant for capital gains following a liquidation which you didn't do.

[bootham]

Hi all,

I closed down my previous limited company using strike off (DS01) option in March 2021. It had remaining profit under 25K, which was distributed between two share holders, kept below Capital gain allowance of 12,300.

Now I want to start a new contact and set up a new limited company. What are the pros and cons for starting new limited company within 3 months time.


Many thanks.