Closing the dormant Limited Company in UK
Jan 7th 2023, 9:44 am
#1
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Joined: Sep 2021
Posts: 33
Closing the dormant Limited Company in UK
Good day friends,
Happy new year to all & I wish everyone a great success in new year.
I have a query regarding my dormant limited company in UK. I am now in middle east as expat & previously I was working as contractor via my own limited company in UK for approx. 7 years.
There is a decent amount stuck in company. I am not resident in UK for tax purposes.
Does anyone has experience or can recommend if I should close the company & withdraw the money or is there some other way, I can withdraw the money.
I am aware there is 10% tax via MVL (Members voluntary liquidation) however I am not sure if I need to pay my indidividual tax as well.
Any suggestions are much appreciated.
Many thanks
MD
Happy new year to all & I wish everyone a great success in new year.
I have a query regarding my dormant limited company in UK. I am now in middle east as expat & previously I was working as contractor via my own limited company in UK for approx. 7 years.
There is a decent amount stuck in company. I am not resident in UK for tax purposes.
Does anyone has experience or can recommend if I should close the company & withdraw the money or is there some other way, I can withdraw the money.
I am aware there is 10% tax via MVL (Members voluntary liquidation) however I am not sure if I need to pay my indidividual tax as well.
Any suggestions are much appreciated.
Many thanks
MD
