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Business Tax Insider

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Here is what our tax experts are sharing with you in this month's magazine:

 

  • Using 'Other Entities' to Extract Cash From Your Company

    This article on withdrawing cash from limited companies covers various techniques involving the use of partnerships and Limited Liability Partnerships...
  • CGT Reliefs - Good News for Businesses Incorporating

    George Osborne’s announcement in last month’s Budget that a single rate of corporation tax of 20% will apply from 1 April 2015 was aimed squarely at attracting businesses to the UK, as it will give the UK one of the lowest corporate tax rates in Europe. This is good news for companies that are...
  • Changes to Prevent Tax Avoidance by Private Companies

    Finance Bill 2013 proposes changes to the CT rules designed to prevent what HMRC sees as tax avoidance through ‘bed and breakfasting’ of loan repayments, loans certain partnerships and trustees and arrangements which ‘confer benefit’ in certain situations...
  • IR35 and Office Holders – What’s The Risk?

    Finance Bill 2013 has introduced a new way for HMRC to bring companies within the scope of its dreaded “IR35” legislation: where the individual or the individual’s company “holds an office” in the client company. But there is some uncertainty as to who or what is an “office holder”...
  • Tax Insider: Tax Tips
  • Tax Insider: Your Property Tax Questions Answered by Arthur Weller
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Business Tax Insider will benefit business owners, company directors and entrepreneurs.

Each month our experts reveal tax saving strategies covering the whole business life cycle including:

  • Tax saving tips for early years of business
  • How to maximise business expenses
  • How to maximise capital expenditure
  • Extracting profits from a company
  • Tax implications of employing people
  • Tax efficient business exit strategies
  • Plus more…

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Back to Questions
« Previous Question 38 of 54 Next »

I am an ex director of a now dissolved company what is my position and the tax position of the company?


I held the position of director in a limited company which was involuntarily struck off by Companies House in Feb 2011 with some outstanding VAT and CT liabilities. HMRC did not raise an objection to the strike off despite it being published in the London Gazette on two occasions. What is the position of the (now dissolved) company in relation to its tax liabilities? What is my position as the ex-director?

Arthur Weller Replies:
There is a possibility that HMRC will pursue the case by trying to get the company reinstated. They could in theory also pursue the director for wrongful trading (if this is applicable). However if the figures involved are relatively small it is quite possible that HMRC won't bother. This can be seen on http://www.hmrc.gov.uk/manuals/insmanual/INS5108.htm.
1 2 3 4 5 next »  Tax Tips  1 - 10 of 77
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