What to do with the Warchest

[Hiram King Of Tyre]

OK, I'll check that out...


I'll be back

[PAH]

What happens when the cupboard is bare though and I have less than £8k in savings.......can I join all the other dossers on the dole?

Yes. I thought they'd increased it recently and it was always more like 16 or 20k?

Have a ganders at entitledto.co.uk to calculate what you may be able to claim on top of job seekers. Things like council tax and rent are typical extras you can claim for.

[Hiram King Of Tyre]

I'll have to talk to the accountant about that. I daren't take any more salary or dividends fror the time being. The situation isn't destarate yet but I do need to start on my warchest now. I'm going to start looking for a job now to at least tie me over and also pursue some part time options. I'm sure there are others in the same boat at the mo.

What happens when the cupboard is bare though and I have less than £8k in savings.......can I join all the other dossers on the dole?

[PAH]

Would it be possible to eat into the funds in your company set aside for corp tax, with a view to replenishing it if you can get a contract before it's due, or if still without contract by then just close the company and not pay any tax.

Not sure about the legalities (maybe someone from HMRC can login and enlighten us ) but it seems that's what a lot of companies do when they're having cash flow problems and eventually go to the wall, not least bleedin agencies that haven't paid their dues.

All I do know is that after taking a year off for plan B my company ended up making a loss which resulted in HMRC giving me back a large chunk of corp tax I'd paid for a previous year. So in this situation the corp tax that's due may be paid by the refund from the previous year if you file accounts with a loss.

Probably needs clarification from an accountant.

[Hiram King Of Tyre]

So....no contract for 4 months now....no money left in the Ltd Co (other than what I need to pay Corp tax etc).

I do have a warchest though of ISAs etc. I could wrap the Ltd Co up and go and claim my £56 a week for 6 months while making the warchest last as long as possible....

Or, do I get on with Plan B, Not worry about the warchest using it to develop my property etc and then when I only have £8k left, then go down the job center....

Frustrating innit