Hi,
I’m currently contracting at a large bank that’s recently announced that they will no longer deal with LtdCos (no prizes for guessing who...) While I’m strongly tempted to walk, I’m thinking that this could give me an opportunity to empty my LtdCo of retained funds by a MVL/ER; remain with the client for now via an umbrella; and restart a LtdCo two years after liquidation if it seems appropriate at that point.
The one question in my mind to which I can’t find a definitive answer is whether moving to an umbrella - at the same client - would scupper the ER claim, counting as a “similar trade or activity.” My gut feel is no, as I won’t be a business owner at all, but it’s not 100% obvious from the ER wording.
Any opinions - especially from people that went through a similar process in the public sector a couple of years ago?
I’m currently contracting at a large bank that’s recently announced that they will no longer deal with LtdCos (no prizes for guessing who...) While I’m strongly tempted to walk, I’m thinking that this could give me an opportunity to empty my LtdCo of retained funds by a MVL/ER; remain with the client for now via an umbrella; and restart a LtdCo two years after liquidation if it seems appropriate at that point.
The one question in my mind to which I can’t find a definitive answer is whether moving to an umbrella - at the same client - would scupper the ER claim, counting as a “similar trade or activity.” My gut feel is no, as I won’t be a business owner at all, but it’s not 100% obvious from the ER wording.
Any opinions - especially from people that went through a similar process in the public sector a couple of years ago?
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