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Question on Voluntary Liquidation (MVL)
sdyson31
Posts: 19 Forumite
in Cutting tax
I have a question on Voluntary Liquidation (MVL).
I am planning to stop trading through my Ltd company after March next year.
My company's first year accounts are due in 4 days and my account has advised me to lengthen the company's financial year to 18 month. So i will pay the 19% tax at the end of 18 month along with 10% relief tax. There will also be a separate fees for doing MVL.
1) Can i close the company in the middle of company's financial year (after paying all taxes) ?
2) Does it matter whether i extend the period to 18 months or not?
3) Can i just pay the 19% tax now and then close the company next year in sept after paying the cooperation tax along with 10% MVL?
I am planning to stop trading through my Ltd company after March next year.
My company's first year accounts are due in 4 days and my account has advised me to lengthen the company's financial year to 18 month. So i will pay the 19% tax at the end of 18 month along with 10% relief tax. There will also be a separate fees for doing MVL.
1) Can i close the company in the middle of company's financial year (after paying all taxes) ?
2) Does it matter whether i extend the period to 18 months or not?
3) Can i just pay the 19% tax now and then close the company next year in sept after paying the cooperation tax along with 10% MVL?
0
Comments
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Is there any reason why you cannot ask your accountant?1
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