LB Group
Professional, Proactive, Partner-led advice
IPSWICH
01473 359720
COLCHESTER
01206 867551
CHELMSFORD
01245 254780
LONDON
0208 221 8282

Professional, Proactive,
Partner-led advice

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ENQUIRY

LONDON: 0208 221 8282
CHELMSFORD: 01245 254780
COLCHESTER: 01206 867551
IPSWICH: 01473 359720

Email: info@lbgroupltd.com

THINKING OF WINDING UP YOUR COMPANY

THINKING OF WINDING UP YOUR COMPANY

THINKING OF WINDING UP YOUR COMPANY?

Up until 6 April last year, the distribution of cash to shareholders on the winding up of a trading company by a liquidator, was usually taxed as a capital gain, potentially taxed at just 10% with the benefit of entrepreneurs’ relief.

However, last year’s Finance Act introduced a targeted anti-avoidance rule that may tax such a distribution as a dividend at income tax rates up to 38.1% under certain circumstances HM Revenue and Customs have recently issued guidance in an attempt to clarify when the new anti-avoidance rule would apply.

Broadly the anti-avoidance is intended to catch situations where the old company is wound up and a similar business is carried on by a connected business. Note however, the distribution would only be taxed as a dividend at income tax rates if one of the main purposes of the transaction was to avoid tax. This is a complex area so please contact us to discuss your plans so you do not fall foul of the new anti-avoidance rule.

THINKING OF WINDING UP YOUR COMPANY

THINKING OF WINDING UP YOUR COMPANY

LB Group Chartered Accountants are a top 75 Firm in the UK of Accountants providing Audit, Tax and Advisory Services across a variety of industries.

With offices in London, Chelmsford, Colchester and Ipswich our partner led approach with fixed fee options provides a professional and proactive service to both business and personal clients.

Our mission is to be a leading financial and business services provider offering the upmost level of customer satisfaction to our entire client base. We will offer a forward thinking and proactive accountancy, tax and business service, providing practical solutions for our clients’ individual needs.

We will encourage a culture of professional and personal development amongst our people.

Company Values

At LB Group, we are passionate and committed to providing excellent customer service for each and every client. Our organisation is built on strong relationships with our customers and business associates.

We have a central philosophy of core values. These values are how we believe our customers, employees, and business associates should be treated at all times. Click to find out more.

THINKING OF WINDING UP YOUR COMPANY

 

LB Group Limited registered in England © 2017 Company Number: 2796741. Associate Directors are not statutory directors of the firm.

Chubb Insurance Company of Europe S. E, Policy Number: 82182733E. Limit of Indemnity £4 million on any one claim.