Hi guys. I have a financial adviser ltd company and I decided to sell up. The best option was to join another financial advice firm as a sole trader. They then sent a direct offer to my clients and for any of the clients who signed up with them, I received a fee.
The way it was sold to was that it was a 12 month contract and as I am receiving money for the sale of clients it will be subject to cgt.
My accountant doesn't agree and says the money should go into the ltd company.
But it wasn't a choice, they only bought clients in the way I have mentioned.
1. Which sounds right?
2. If I carried on with the money being paid to me as a sole trader and paying 20% and HMRC picked it up and said no, this is ltd company money. Can I just pay the cash back into ltd company and treat it like it was a loan, or will they force me to keep it as it was and pay income tax on the full amount?
Thanks
Mark
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