Hi all,
I've been trying to close my company with Nixon Williams since January but it is taking forever. I realise we now have a pandemic but I would have expected to at least have to have filled out a form at this stage to begin the closure process. The closure accountant asked me to stop my direct debits but then due to that I missed paying my VAT and got chased by my original accountant as to why I missed it!
Apparently although I've seen no proof the closure date was to be put as the end of Feb. I've asked the guy closing the company twice by email and once by phone can I now take out the money remaining in the account allowing enough for Corp tax etc. These were ignored and my original accountant came back and said I could as a directors loan and the other guy will adjust at a later date if needs be. This adjust I'm worried about in case that later means tax.
It's 7k and can be extracted using my capital gains allowance tax free apparently but I'm not sure this directors loan is correct. My trust is kinda lost in them and we are now entering a new tax year which I'm not sure does it mean I'll have further paperwork in the years to come because of that or does closing the company stop all that.
Anyone know if I could just extract remaining funds now as a directors loan or any Nixon Williams accountants willing to look at my file?
Thanks
I've been trying to close my company with Nixon Williams since January but it is taking forever. I realise we now have a pandemic but I would have expected to at least have to have filled out a form at this stage to begin the closure process. The closure accountant asked me to stop my direct debits but then due to that I missed paying my VAT and got chased by my original accountant as to why I missed it!
Apparently although I've seen no proof the closure date was to be put as the end of Feb. I've asked the guy closing the company twice by email and once by phone can I now take out the money remaining in the account allowing enough for Corp tax etc. These were ignored and my original accountant came back and said I could as a directors loan and the other guy will adjust at a later date if needs be. This adjust I'm worried about in case that later means tax.
It's 7k and can be extracted using my capital gains allowance tax free apparently but I'm not sure this directors loan is correct. My trust is kinda lost in them and we are now entering a new tax year which I'm not sure does it mean I'll have further paperwork in the years to come because of that or does closing the company stop all that.
Anyone know if I could just extract remaining funds now as a directors loan or any Nixon Williams accountants willing to look at my file?
Thanks
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