Originally posted by yMyjgT
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The end of ER?
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Originally posted by Maslins View PostYes, but I imagine the typical person going through an MVL will either:
1) have already taken divis up to top of basic rate band (as 7.5% rather than 10%), and/or
2) is going into a high paid permie/umbrella role, so will eat up basic rate band there.Comment
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Originally posted by TheCyclingProgrammer View PostSounds like there’s still an opportunity to plan around this accordingly, eg make sure you don’t take enough dividends to push you into the higher rate and try and time it for the end of the tax year?
Typical of HMRC to complicate things as much as possible.Comment
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Originally posted by yMyjgT View PostNoComment
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Originally posted by ChimpMaster View PostIf Government/HMRC want to get of ER then it will become effective immediately so as to prevent anyone taking advantage (in their eyes) of ER.
In any case, the upshot is that you will probably still be able to MVL but there won't be any claim for ER, which means that you will be liable to the usual CGT rates. This will be 20% for most people rather than 10% under ER.Comment
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Originally posted by JohntheBike View PostHow is CGT tax linked to closing down a company? I understand how CGT works when profits are made based on purchase v's selling price, but even then isn't there an allowance?Comment
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Originally posted by JohntheBike View PostHow is CGT tax linked to closing down a company? I understand how CGT works when profits are made based on purchase v's selling price, but even then isn't there an allowance?Comment
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Originally posted by ChimpMaster View PostIf Government/HMRC want to get of ER then it will become effective immediately so as to prevent anyone taking advantage (in their eyes) of ER.
Interested to know peoples thoughts and speculations on when an end might take place given the current political situation, if it were to.
Apreciate there are no certainties but trying to plan around risks with this route as best as possible.
I would have thought that it would come under budget change. Thus an April budget change most likely. But presumably we could have a post-election /brexit emeregency budget before then although not sure that it would feature highly on that adgenda. A political pundit i am not though so interested on others views.
edit- just noticed this came up on another thread so will repost there.Comment
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