Fear of losing cash in corporate bank account to the government or the bank

[DaveFischer]

Due to poor administrative execution of ceasing activities of my UK Limited Company, the remaining balance of my corporate bank account was transferred to the UK Treasury. Even though I had already paid corporation tax and personal tax over the money. I wasn't aware of all the technicalities and my accountant didn't inform me about the urgency of emptying out my corporate bank account.

My accountant said it wasn't worth it to try and recover the money as I'd have to pay the accountancy agency and penalties to HMRC.

• If there are any administrative/bureaucratic problems with your offshore corporation? E.g. your corporation gets terminated immediately by a technicality.
• Does that mean that your offshore bank account balance will become inaccessible?

I don't like governments and regulations having so much power over me and even though I paid plenty of money to advisors/accountants, I didn't see this coming.

• Is your own money becoming inaccessible on an offshore bank account a rational fear, when you have an offshore company?
• Would having a bank account and offshore company in separate countries solve this issue? E.g. I had a UK-based company and UK-based bank account.

 

[VESTANON]

Most probable solution would be opening an anon offshore bank acct + Company in tandem (though not Uk registered company and acct), where funds can be sent into without trace, while you have access and operate the acct discretely.

That would solve at least, provide some financial redudancy.

With the Global lockdown govts are looking at all books, technical loopholes etc, to negate the losses suffered economically and otherwise.

As per the funds transferred into the treasury, your accountants advice nails it.