Hi,
I'm an IT Contractor for the last 9 years. I'm now considering taking up a permanent position. The Balance in my limited company is about 25k.
Can anyone tell me what my options are? I've heard that it costs money to wind up a company, but yet if I just leave it dormant, I will be subject to corporation tax. My account has told me it will also cost 900euro per year to do the accounts.
I may also decide in the future to go contracting again, so if I could take the money out of the business (in the most tax-efficient way), and leave it open, that would be ideal.
There is also a pension schem attached to the business, which has a value of 50k (80k contributions to date :-(
I've asked the accountant this same question, but he hasn't got back to me yet.
Any advice appreciated.