As always, thank you for watching my latest video. I sincerely hope you find it invaluable and it enhances your finance knowledge. If there is anything you wish for me to cover in future videos, please comments (and like) below and I will seek to address your question in a future video.

@mogreen1249

4 жыл бұрын

Hi Adrian, Thanks for video just checking you mentioned its £100 per year to make it dormant. My accountancy charges £60 per month to keep it dormant. Guess I am overpaying very heavily.

Very insightful. I will be contacting you soon (before the new tax year).

Really helpful video.

shame about the poor sound quality. Helpful advice, thanks

Hi. Great video and tips. If i close down my ltd company, do i need to payback any capital assets bought, ie i just bought a computer for work, amd now i have been told that my contract is coming to an end due to ir35. I am taking a perm role. What do i do with my cimputer, do i need to pay this back as i paid for it as expenses for my ltd company. Hope this makes sense. Thank u

What is difference MVL vs business asset disposal ? business asset disposal is also 10% tax ?

If the distributable reserves are £25,000 or less, the remaining money can be treated as a capital distribution instead of an income distribution (dividend).

@tonydCFO

4 жыл бұрын

Hi tunafish, I presume your question relates to the closing of your Ltd Company. If the dissolution is done correctly, then yes remaining funds (once all creditors have been paid) can be treated as a capital distribution.

Hi thank you for your video. I want to put my company in dormant state. What happens to my funds in my account? I am in full time work now and still want to keep my bank account in future.

@tonydCFO

3 жыл бұрын

Hi Kehnie, this video kzread.info/dash/bejne/ZXtqzqaSf5q-pqQ.html should help.

Great video! Thank you. I wondered about the £12k capital gains allowance: If there are two equil shareholders in the business, are there 2 x CGA? i.e. £24k? So, in your example, 40-24=16. Tax due is then 10% of £16k = £1.6k?

@tonydCFO

4 жыл бұрын

Good question! CGT allowances apply to each individual, so yes each shareholder would get £12k each.

Hi, my Ltd company is dormant for 2 years. I received a helfy penalty late filing. Company doesn't have any debts or assets. Nil accounts. If I close the company does the penalty goes away or am I still liable?

@tonydCFO

2 жыл бұрын

Hi Faisal, thank you for your question. You can go along to our Q&A section where you can post your question and get a response from a qualified accountant or chartered tax advisor >>> accountingtaxacademy.com/qa-section/