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I have been contracting via my own personal services company since 2009. I have been on maternity leave since June 2013 (fully salaried by my company except for the period I received Statutory Maternity Pay). I have just been offered an 8 week contract by a City institution, but am having no end of hassle with the agency they are using to complete all the relevant security/credit checks as they seem to fail to understand the difference between contractors working via a limited company and PAYE employees.
I am now retired. When I retired I closed my company with the aid of my accountant, with HMRC approval and of course paid all the necessary taxes etc. I left a previous accountant because he failed to submit my PAYE P35 etc. on time and the company received a penalty of £400. The fine was in respect of the year end April 2007. The company was dissolved officially in November 2008 as per records at Companies House.
MyCo has been doing well over the last few years so it is accruing monies which I don't need to spend just yet. As I see it MyCo pays the CT on the profit but I don't take the dosh - why pay 40% income tax on it to put it in an ISA @1.8% interest? Are there any rules or limits on doing this?
I started a contract in December 2012 and had my contract reviewed at that time. It was passed and I also have a confirmation of working agreements signed by the end client. I have extended my contract a couple of times and have just been asked again.