Reply to: Question for those that have gone permie

[Pondlife]

Best off topic tangent for a while.

Good work.

[Ruprect]

Ermmm... You sure you phrased that right?

Sounds like a quote from many a pr0n film.

[Zippy]

That's almost as good as when Lisa Contractor Umbrella told us that "Anal is OK Better safe than sorry"

[TheFaQQer]

I love DP

That's almost as good as when Lisa Contractor Umbrella told us that "Anal is OK Better safe than sorry"

[Zippy]

Ermmm... You sure you phrased that right?

Sounds like a quote from many a pr0n film.

Really? Can you explain?

[TykeMerc]

I love DP

Ermmm... You sure you phrased that right?

Sounds like a quote from many a pr0n film.

[Zippy]

I've only done it 272 times.

So far so good.

I love DP

[cojak]

Another explanation is I'm a lying bastard.

And Ruse is a gullible one..

[DimPrawn]

Eh !! How can that be, even if you had 10 Ltd companies and phoenix'd them every year, which would be nuts, that would be 27 years...

Another explanation is I'm a lying bastard.

[Ruse]

I've only done it 272 times.

So far so good.

Eh !! How can that be, even if you had 10 Ltd companies and phoenix'd them every year, which would be nuts, that would be 27 years...

[kingshuk]

Question I have is whether any of you still continue with PCG membership or some other kind of protection against an IR35 investigation.

I am still a PCG member even though I became permie slave about 7 months ago. Will expire on March next year and I will start asking at that time I guess. I vaguely remember having seen a post from malvolio about this in accounting and he had mentioned that renewal for several years after isn't required. But I will ask PCG at the time just to be sure. (also closing the company )

[TheFaQQer]

I recycle my ltd companies every few years.

I've only done it 272 times.

Just how old are you, Prawn??

[DimPrawn]

It's called Phoenixing and if you do it regularly may well attract Hector's attention to you for the obvious reasons. I've done it once but for a genuine reason.

I've only done it 272 times.

So far so good.

[Ruse]

isn't there any downside to it ?
you get whacked for extra tax when you take the dosh out
which you wouldn't ,if you keep the same company running .

It's called Phoenixing and if you do it regularly may well attract Hector's attention to you for the obvious reasons. I've done it once but for a genuine reason.

[DimPrawn]

isn't there any downside to it ?
you get whacked for extra tax when you take the dosh out
which you wouldn't ,if you keep the same company running .

You can take all the money out via a dividend or do what I did and extract it out as a capital gain. Ask your accountant.