We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Question on Voluntary Liquidation (MVL)
Options
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
-
Is there any reason why you cannot ask your accountant?1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards