Hi!
Is there anyone out there with a UK limited company that doesn't live in the UK? I'm rather confused as to how I should pay myself. I live in the EU, have a UK limited company and am not a UK tax resident (meaning -if I'm right- 0% income tax in the UK, but instead paying it in my host country).
According to a friend, this would mean that if I deduct 100% of my earnings as salary, it would mean I wouldn't have to pay any corporation tax (because corporation tax is payed after profit, meaning 100% salary = 0 profit). Is this right? I spoke to a UK based accountant a while back and he suggested paying corporation tax in the UK, then asking an accountant in my host country for advice on how to pay myself. This conflicts with the above.
Bonus question: if there's anyone out there with a small UK limited (I expect my turnover to be very low), could you please share your opinion/experience on doing your own taxes vs an accountant? I see mixed opinions floating about.
Cheers!
Is there anyone out there with a UK limited company that doesn't live in the UK? I'm rather confused as to how I should pay myself. I live in the EU, have a UK limited company and am not a UK tax resident (meaning -if I'm right- 0% income tax in the UK, but instead paying it in my host country).
According to a friend, this would mean that if I deduct 100% of my earnings as salary, it would mean I wouldn't have to pay any corporation tax (because corporation tax is payed after profit, meaning 100% salary = 0 profit). Is this right? I spoke to a UK based accountant a while back and he suggested paying corporation tax in the UK, then asking an accountant in my host country for advice on how to pay myself. This conflicts with the above.
Bonus question: if there's anyone out there with a small UK limited (I expect my turnover to be very low), could you please share your opinion/experience on doing your own taxes vs an accountant? I see mixed opinions floating about.
Cheers!
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