My company has been making a loss for a few years due to ill health, working abroad etc.
I was planning a triumphant return to the UK contracting market where I could live it up tax free for a while.
Since this now seems to be off the cards, I’m wondering what to do. If I close the company, would I lose all the tax freeness I’ve built up?
Is there any way of selling the losses?
Another possibility is transferring a spare house into the company and letting it out. I guess I could take all the rental income tax free for a few years?
I’m a bit ignorant about all this stuff, so ELI5 please.
I was planning a triumphant return to the UK contracting market where I could live it up tax free for a while.
Since this now seems to be off the cards, I’m wondering what to do. If I close the company, would I lose all the tax freeness I’ve built up?
Is there any way of selling the losses?
Another possibility is transferring a spare house into the company and letting it out. I guess I could take all the rental income tax free for a few years?
I’m a bit ignorant about all this stuff, so ELI5 please.
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