Leaving the country, for good. Best way to get my cash out ltd?

[snaw]

Guys,

Got a stack of cash sitting in my limited, went permie in March so not really been trading this year and about to head o/s (Singapore) for good *By that I mean if we leave there it'll be to go to Australia, with the missus - no plans to come back here to work/live again)?

What's the best way to get the cash out of my company, and minimise by tax?

Cheers all.

[RichardCranium]

What's the best way to get the cash out of my company, and minimise by tax?

Not tell HMRC you've left?

[HairyArsedBloke]

Pay for all removal costs with company funds, draw cash, etc.

Leg it. Don't bother telling Hector.

[snaw]

Not tell HMRC you've left?

Sounds a bit simplistic (Excuse my naivety). So I just pay myself the whole whack as a dividend, and pay local tax in singapore?

Something like that?

I thought there was a bit more too it than that, plus I'd probably leave most of it here till a more favourable foreign currency exchange presents itself (Few years away possibly, I know).

[snaw]

Pay for all removal costs with company funds, draw cash, etc.

Leg it. Don't bother telling Hector.

Could do that I guess, don't wanna burn my bridges - you never know in life what's round the corner - I never thought I was gonna end up back in the UK for nearly 6 years this time ...

[DaveB]

Guys,

Got a stack of cash sitting in my limited, went permie in March so not really been trading this year and about to head o/s (Singapore) for good *By that I mean if we leave there it'll be to go to Australia, with the missus - no plans to come back here to work/live again)?

What's the best way to get the cash out of my company, and minimise by tax?

Cheers all.

Close the company by the rules and issue a final distribution of capital. Dont remember the exact legislation but basically you ccan get tax relief on capital distribution so you pay 10% tax rather than the normal rate. Talk to an account, they should be able to sort it for you for £250 or so.

[snaw]

Close the company by the rules and issue a final distribution of capital. Dont remember the exact legislation but basically you ccan get tax relief on capital distribution so you pay 10% tax rather than the normal rate. Talk to an account, they should be able to sort it for you for £250 or so.

OK, I'll check out the legislation.

Don't wanna pay an accountant, my missus normally does it all for us, she's an accountant by profession (Just doesn't do it any more, apart from our books). Any idea where I could look for that?

[DaveB]

OK, I'll check out the legislation.

Don't wanna pay an accountant, my missus normally does it all for us, she's an accountant by profession (Just doesn't do it any more, apart from our books). Any idea where I could look for that?

No offense to your Missus but get a professional to do it. They know the legislation, they know all the in's and out's, and if they cock it up you have some comback.

£250 for saving 30% in tax, assuming it puts you into the top rate, on what you want to get out of the company seems like a good deal to me.

[DimPrawn]

Guys,

What's the best way to get the cash out of my company, and minimise by tax?

Cheers all.

Got to laugh at you Champagne Socialists snaw. Think of the public sector that needs that cash right now. Hospitals, schools, our armed forces.

Oh, it's all about maximising it for yourself. I see.

[snaw]

Got to laugh at you Champagne Socialists snaw. Think of the public sector that needs that cash right now. Hospitals, schools, our armed forces.

Oh, it's all about maximising it for yourself. I see.

Indeed DP, I should volunteer to pay more than I'm legally obliged too, to satisfy you're imagined view of my politics etc.

Anyway, I always figured this is a serious kinda part of the forum, so why not stick to bagging me in General, instead of acting like a cock here?