homeowner said:I am taking a new PAYE job, have been contracting in IT for years as a Ltd company. Can I make myself redundant from my Ltd company and pay myself redundancy? Do I have to close my company if I do this or can i leave it not-trading for a number of years?
Any advice appreciated.
homeowner said:I am taking a new PAYE job, have been contracting in IT for years as a Ltd company. Can I make myself redundant from my Ltd company and pay myself redundancy?
homeowner said:Do I have to close my company if I do this or can i leave it not-trading for a number of years?
Any advice appreciated.
RonanC said:couple of questions for you, Would you be resigning from the company as a director or would the company be removing you as a director. Are you a shareholder of this company. If you did resign would the company be left with at least two directors??
woods said:I want to disagree with this info (but I hope that I am wrong).
We have just sold a small company and we agreed that the working director would be given a tax free redundancy payment. The accountant says that he has to give it back as you can not make yourself redundant.
There was money in the company to do this and a balancing financial position will be reached so that excess money on the day of handover will be paid back to us so it was not as if the new owner was going to suffer.
It is just that it is seen as what it was. A means of reducing his tax.
homeowner said:No, i would not be resigning.
RonanC said:So how would you be taking redundancy and still be employed by the company as a director???
RonanC said:So how would you be taking redundancy and still be employed by the company as a director???
ubiquitous said:This is obviously not a genuine redundancy situation and as such you have no grounds to claim preferential tax treatment on that basis nor can you make a claim from the State Redundancy Fund .
homeowner said:Why is it not a genuine redundancy? I was working getting a salary and now I will no longer be doing this and I will be working and getting a salary somewhere else.
ivorystraws said:Where does the €400 charge come into play for leaving a non-trading company dormant?
ubiquitous said:and a statutory audit is required even if the company is dormant.
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