entrepreneur relief

I am on contract with my own limited company. My accountant advised me that closing the company is one way of getting the money out of the business account after paying 10% tax(entrepreneur relief). Here I am saving much better than withrawing big dividents and being on the higher tax bracket taxes which is in the range of 30+% .
I will start a new company after that and contiue as usual.

Has anyone did this before while on visa? By doing this will I have any problems in tier extension?

Thanks in advance.

I would contact the UKBA to see whether this would count as income - I can't see anything in the guidance that states that money from the sale of share would be included as income. Away from UKBA, the definition of the money you would be receiving is capital and not income so, basically, it's down to the UKBA's interpretation of the word 'income'

I'd also engage in further talks with your accountant with regards to closing down the company and starting up another one that carries on the same trade and is to all intents and purpose the same organisation. HMRC may seek to counteract any tax advantage if they consider that the process if being undertaken to avoid tax in an abusive way and can do this using the Transactions in Securities rules. Your accountant should be able to advise further with any questions you have.

THIS will amount of absing tax rules , any visa obtained will be void and null after this tratment.

In additional it is breach of company Law