TAAR

Starting another new company

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Hi

I stopped trading April 18 and went through MVL receiving my last distribution Dec. 

The reasons for MVL was my partner went into retirement and I took a permanent salaried role From April18. 

The perm role did not work out and I left March19 and need to go back contracting and set up a new company solely in my name. 

I have concerns around (a) claiming entenpreurs tax relief for the MVL capital gain on my 2018/19 self assessment and (b) also setting up the new company with respect to TAARs (c) all the other tax regulations that I may not have considered in this situation. 

Thanks 

Replies (2)

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By Tim Vane
05th May 2019 16:29

So go and speak to an accountant. That’s what they are for.

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By Matrix
05th May 2019 17:37

You will need to get the accountant who helped with the MVL to assist you since they will have all the facts. For b) to apply I believe that the main purpose or one of the main purposes (of the MVL) was the avoidance of tax.

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