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Reply to: Winding down ltd co.
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Previously on "Winding down ltd co."
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Originally posted by smileyface View PostAm thinking of winding down my ltd co (and claim entrepreneurial relief).
Been told if I have more than £25K in the account, I must go through a liquidator, which charges a fee.
Can someone please tell me roughly how much this would cost and why is there such a disparity between them?
Assuming I have £100K in my account. If I paid a liquidator £10K, does that man the rest (£90K) will be taxed at 10%, leaving me with £81K or is it a tiered system?
Thanks
2. Liquidator shouldn't cos more than £2k to £3k
3. Your £100k number should be after all company liabilities (tax, loans etc) have been accounted for.
4. You might find it beneficial to use your PAYE and dividend allowances prior to liquidation
5. CGT allowance will give you £11k gain tax free (or whatever the allowance is now)
6. The rest will be taxed at 10% ... IF the liquidation is approved by HMRC as allowable for ER.
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Originally posted by smileyface View PostAm thinking of winding down my ltd co (and claim entrepreneurial relief).
Been told if I have more than £25K in the account, I must go through a liquidator, which charges a fee.
Can someone please tell me roughly how much this would cost and why is there such a disparity between them?
Assuming I have £100K in my account. If I paid a liquidator £10K, does that man the rest (£90K) will be taxed at 10%, leaving me with £81K or is it a tiered system?
Thanks
Leave a comment:
-
Originally posted by smileyface View PostAm thinking of winding down my ltd co (and claim entrepreneurial relief).
Been told if I have more than £25K in the account, I must go through a liquidator, which charges a fee.
Can someone please tell me roughly how much this would cost and why is there such a disparity between them?
Assuming I have £100K in my account. If I paid a liquidator £10K, does that man the rest (£90K) will be taxed at 10%, leaving me with £81K or is it a tiered system?
Thanks
Alternatively, read how the directors of Rover did it
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A search would have helped you get a better idea.
https://www.google.co.uk/search?q=mv...obile&ie=UTF-8
A simple google search might have been a good idea as well.
I am sure Mr Maslin will be delighted to hear you are willing to pay someone 10k to do this.
Leave a comment:
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Winding down ltd co.
Am thinking of winding down my ltd co (and claim entrepreneurial relief).
Been told if I have more than £25K in the account, I must go through a liquidator, which charges a fee.
Can someone please tell me roughly how much this would cost and why is there such a disparity between them?
Assuming I have £100K in my account. If I paid a liquidator £10K, does that mean the rest (£90K) will be taxed at 10%, leaving me with £81K or is it a tiered system?
ThanksLast edited by smileyface; 14 December 2016, 17:12.Tags: None
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