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Thanks for the info, great news for me as just MVL’ing my company.
Needed cheering up today ?
Have you had your first distribution yet?
Correct me if I'm wrong but if distribution 1 is made this tax year, and then distribution 2 is made post April 6th so new tax year, then you're up 1.2k because the 12k CGT allowance is utilised in 2 tax years?
Thanks for the info, great news for me as just MVL’ing my company.
Yup, and from MVLO's selfish perspective, it's good news too! Haven't checked the small print yet, hopefully no nasties in there. If not, basically won't impact us (or the typical contractor looking to liquidate) at all.
Just wish the team & I hadn't all had a nervous breakdown trying to rush a gazillion liquidation sign ups through in the last month!
Yup, and from MVLO's selfish perspective, it's good news too! Haven't checked the small print yet, hopefully no nasties in there. If not, basically won't impact us (or the typical contractor looking to liquidate) at all.
Just wish the team & I hadn't all had a nervous breakdown trying to rush a gazillion liquidation sign ups through in the last month!
Who the hell are they?
'CUK forum personality of 2011 - Winner - Yes really!!!!
I wonder if the £1m limit introduced today, includes previous claims for ER.
For example a business owner who sold with say £300k funds in 2012 (or whenever) and claimed ER on this amount. Does that mean he only has £700k left to use when he liquidates his next business?
Or does the £1m lifetime limit begin afresh, from now?
I wonder if the £1m limit introduced today, includes previous claims for ER.
For example a business owner who sold with say £300k funds in 2012 (or whenever) and claimed ER on this amount. Does that mean he only has £700k left to use when he liquidates his next business?
Or does the £1m lifetime limit begin afresh, from now?
I suspect the clue is in the name. So, if you've already claimed past the £1m level, you can't get ER on any future claims.
I've not seen this confirmed anywhere though, but I'd be surprised if it was not this.
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