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    #31
    Originally posted by rascal View Post
    "Ceased trading" was never mentioned and requires a formal decision to wind down the company.
    No it doesn't.

    cessation of trade is not the same as, nor does it require, the company to be wound up (it's up not down).

    Details are important as these words have legal meaning and definitions.
    See You Next Tuesday

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      #32
      Originally posted by rascal View Post
      I think you have read too much between the lines of my post. I never asked the accountant the question you implied.

      It's hard to read your posts when in one you mention "salary" on its own, then next post you refer to salary, expenses, pension and dividends as all being part and parcel of the same thing.


      Originally posted by rascal View Post
      It was the accountant who described the company as having "stopped trading" when it is not generating any income i.e without a contract.

      "Ceased trading" was never mentioned and requires a formal decision to wind down the company.

      And when the accountant said to you about you having stopped trading, did you explicitly correct them and say no, you were looking for new work?
      …Maybe we ain’t that young anymore

      Comment


        #33
        Originally posted by WTFH View Post
        It's hard to read your posts when in one you mention "salary" on its own, then next post you refer to salary, expenses, pension and dividends as all being part and parcel of the same thing.
        No, it's not really. You just seem to have difficulty following the thread of the conversation.

        My first post was in reply to this question:

        Originally posted by spindrift View Post
        Is there a legal reason why I cannot run the business for several more years and continue to pay myself salary, dividends (*capped at base-rate) and expense pension contributions while having no turnover?
        In response to that I described the advice I was given by my accountant when I found myself in a similar situation.

        Originally posted by WTFH View Post
        And when the accountant said to you about you having stopped trading, did you explicitly correct them and say no, you were looking for new work?
        No, because I didn't presume to know more about what stopping trading meant than my trained and qualified accountant, and their definition of stopping trading was when there was no more revenue being generated.

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