So the day has come, I have accepted a permie role - doesn't start until end Jan, so until then I will be invoicing with final payment expected end Feb for my last invoice.
I have the questions out with my accountant, but wanted to check the hivemind of knowledge on here
Company has less than 25k in it, I think 17k distributable profit as it stands right now. I am assuming this means Strikeoff rather than MVL?
What is the process and costs involved, and is it CGT as an end game?
Secondly, my concern is around IR35. I am effectively going Perm the Monday after my final Friday as a contractor, and will have a period where the LTD company is still open as I await a) final invoice payment and b) cease the company process starts. It is a different role, very much more management than analyst, but same department and Line Manager.
Does anybody have any specific examples/experiences/advice that can help me form a view? Accountant has been A++ but just waiting on a response and figured all knowledge is good.
Ta
I have the questions out with my accountant, but wanted to check the hivemind of knowledge on here
Company has less than 25k in it, I think 17k distributable profit as it stands right now. I am assuming this means Strikeoff rather than MVL?
What is the process and costs involved, and is it CGT as an end game?
Secondly, my concern is around IR35. I am effectively going Perm the Monday after my final Friday as a contractor, and will have a period where the LTD company is still open as I await a) final invoice payment and b) cease the company process starts. It is a different role, very much more management than analyst, but same department and Line Manager.
Does anybody have any specific examples/experiences/advice that can help me form a view? Accountant has been A++ but just waiting on a response and figured all knowledge is good.
Ta
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