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Type: Posts; User: ahspooner

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  1. agree with this completely. It might have been a...

    agree with this completely. It might have been a different story if the election was next month, but we're stuck with what we've got, however they turn out to be, for a few years yet
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    My understanding is that it's the date of the...

    My understanding is that it's the date of the distribution paperwork, as opposed to the date of the money into the account, although I could very well be wrong.

    Any of our accountancy friends on...
  3. :laugh

    :laugh
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    4,712

    He'll have spilt his champagne reading that!

    He'll have spilt his champagne reading that!
  5. Hi, I'm just waiting for first distribution...

    Hi,

    I'm just waiting for first distribution now .If relief is scrapped on 11th March, I think it's unlikely to kick in until April 6th. For me I can live with potentially losing ER on the second...
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    Did the liquidators quoting 7 days say what would...

    Did the liquidators quoting 7 days say what would be achieved in that time, and how the fund transfers will be managed?

    i.e. will they ask you to transfer the funds from your business account to...
  7. Hefsta, when did you start the process with them?...

    Hefsta, when did you start the process with them? I started a couple of weeks ago with them, and things appear to be moving along at the pace at which they originally indicated. Maybe they were just...
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    MVL and credit rating impact

    Hi,

    I've had a look through the forums and haven't been able to find a definitive answer on this. Essentially when you conduct an MVL does this impact your personal credit rating? I'd assume...
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    One additional thing to query is would dividends...

    One additional thing to query is would dividends actually be allowed ? My , albeit limited, understanding is that dividends need to be explicitly declared. If there was a liquidation, these wouldn't...
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    This exactly, it's just about knowing all of the...

    This exactly, it's just about knowing all of the options and implications of every option. As you've rightly said it would be a crazy option to intentionally do this.
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    Hi, I was coming at this from a situation that...

    Hi,

    I was coming at this from a situation that was out of my control perspective , and not the initial intent, but I hear what youre saying .

    In this scenario then it would be a case of...
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    Hypothetical MVL and Dividend scenario

    Hi,

    Just a hypothetical scenario.

    Let's say I went MVL and the distributions arrived in April/May, and then for whatever reason I was fired/made redundant in November time.

    Could I then...
  13. I interpreted it the same way as yourself. I'm...

    I interpreted it the same way as yourself. I'm engaging them anyway regarding my MVL , but if they can offer this for me, then this would be my preference, purely to expedite the process.
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    Is this in effect a Distribution Of Specie ? As...

    Is this in effect a Distribution Of Specie ? As per Clarity on Distributions in Specie and S455 – Frost Group
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    TAAR - Condition C and going perm

    Just wondering, I've been back in perm land for a couple of years now, and just about to start off the MVL process ,but condition C of the TAAR rules lept out at me
    "Condition C: the individual...
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    I guess it depends on when/if ER is disposed. If...

    I guess it depends on when/if ER is disposed. If it's April 6th then I'm assuming initial distribution will have ER, the second just having capital gains tax applied.
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    That's my plan. Accountancy has started...

    That's my plan. Accountancy has started proceedings, then im going to take a call when they're done whether to pass it to the liquidator. If the accountants promises of turnaround time aren't met,...
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    This is one of the reasons i've been indecisive...

    This is one of the reasons i've been indecisive about MVL.

    I was going to start the process on Monday, but wanted assurances that the initial distribution would be pre 20/21 tax year (April...
  19. Thread: MVL advice

    by ahspooner
    Replies
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    3,392

    Even if you have gone past the 3 year rule, my...

    Even if you have gone past the 3 year rule, my understanding is that you'd still be eligible for Capital Gains Tax at 20%, it's just the entrepreneurs relieft at 10% that might lose out on. So not...
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    You're absolutely right about the worry less part...

    You're absolutely right about the worry less part !!

    Yeah, I saw their time frames on their FAQ, the concern was more around accountants being able to get stuff to them in a timely manner,...
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    Even though Im not looking, I've received quite a...

    Even though Im not looking, I've received quite a lot of calls this week already, which i've not usually experienced at this time of year before, well at least not this volume. Calls have been...
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    Striking the company off - None MVL

    Hi,

    Just looking at all options at closing down my Limited Company, and although not tax efficient, would striking the company off rather than going down the MVL route also be tied to the 2 year...
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    MVL scenarios

    Hi,

    Just got a couple of things I wanted to raise in regards to some MVL scenarios, and im interested in knowing peoples thoughts on both of them. You'll be able to figure out from these that Im...
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