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Keeping money in your company, or withdrawing it

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    #11
    Hi all,

    Many thanks for replying. Yes, I have been contracting a long time (24ys). The trouble is that when I first started I looked up the nuts and bolts of these subjects, then over the 10 years working, forgot why, how, CT, etc etc. I suddenly thought why am I doing this again and whether at my age / new laws / changes in CT and what you can / cant do now that I might need to change my usual ways of working.

    My company wat chest is good, always is as 24 years of contracting has taught me that 24hrs is a long time / life changing and tomorrow could be a rainy day :-)

    Actually, thinking about it, I went down the road of capital distribution about 17 years ago, i.e. loaded up my company then closed it down paying CG on the amount. Is this still about ? I remember the rules were going to change in 2007/8 ?

    I should of known / remembered that CT were included in CT. Apologies for this.

    Time to go see a tax advisor and get my long term strategy dusted off / reviewed.

    Excellent as ever though, well done all.

    SBK

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