Sterling Ford - Insolvency & Bankruptcy Services


   MVL - OPPORTUNITIES TO TAKE ADVANTAGE OF CHANGE IN TAX YEAR

BREXIT SERVICE:
Whether due to BREXIT or not, we have seen an increase in clients wanting their capital distributions made on or before 5th April 2018 as they have or are in the process of changing their tax residence to another jurisdiction. Contact us ASAP to find out how we can assist you in taking advantage of both your annual CGT free allowance and Entrepreneur's Relief.



TRIPLE ANNUAL CGT FREE ALLOWANCE + ENTREPRENEUR'S RELIEF:
For qualifying clients, there is still time to place your company in MVL to receive your first capital distribution on or before 5th April 2018, your second after 6th April 2018 and your third/final on or after 6th April 2019 - for qualifying clients this would give you 3 years of CGT free capital allowances worth £11,300 for 2017/18, £11,700 for 2018/19 and at least £11,700 for 2019/20. For 3 years [assuming the rate for the Annual Exempt Allowance in 2019/20 is at least the same as for 2018/19] this could amount to £34,700 per tax payer with the balance of your distributions subject to tax at 10&percent if you qualify for Entrepreneur's Relief. For 2 director/shareholders with £100,000 to distribute, your tax bill could end up at just £3,060 between you, that is £1,530 each.



Our charges for our MVL service are typically £1,150 plus VAT and disbursements, so do contact us for a written quote. For more information on our MVL service, click here.



Although we share information about what tax saving opportunities may be available for qualifying individuals, we strongly recommend you obtain appropriate advice from your tax advisor/accountant, before contacting us.





For a different perspective, call us now on 0808 171 2291 or complete our enquiry form.