Moving away from the UK, withdrawing dividends and closing company

[zerosum]

Switzerland cost of living is so expensive and they need visa if you want yo stay there.

Not until the end of the year; cf. the Brexit withdrawal agreement. Those rights have been p***ed away by some idiots but they are still there for another couple of months.

Other than that your map shows 21% in dividend tax...


I've checked the map and Uk still seems the most advantageous. The 2 countries with 0% dividend tax (estonia & latvia) still have income tax and aren't like being in the sun with great weather. Not sure about pension benefit either.

So I still can't see which country in europe would be better than the UK when considering fiscal benefit, pension and weather.

So let me get this straight. You *know* the UK, and are able to look at the map and disregard the advertised rate of dividend tax. But you conclude that all the other countries tax dividends according to the advertised rates. OK. Sounds like the UK is the right place for you.

[cwah]

Not until the end of the year; cf. the Brexit withdrawal agreement. Those rights have been p***ed away by some idiots but they are still there for another couple of months.



So let me get this straight. You *know* the UK, and are able to look at the map and disregard the advertised rate of dividend tax. But you conclude that all the other countries tax dividends according to the advertised rates. OK. Sounds like the UK is the right place for you.

Yes I know the UK and don't know enough the other countries. That's why I'm asking you what countries you are looking for...

[zerosum]

Yes I know the UK and don't know enough the other countries. That's why I'm asking you what countries you are looking for...

It completely depends on your circumstances and where you could move to. In a typical case like this someone would be extremely motivated to get out of the UK, they'd draw up a shortlist of places they would want to and be allowed to live in (for example Singapore is amazing in many ways but good luck getting a permit to live there), and they'd then figure out how to live in them in a tax-efficient manner. In the UK tax efficient strategies include running a limited and being non-dom if you qualify; elsewhere might need different strategies. It's beyond the scope of a forum post though.

[rootsnall]

It completely depends on your circumstances and where you could move to. In a typical case like this someone would be extremely motivated to get out of the UK

I wouldn't class the potential saving as a cause for 'extreme motivation' if they have been able to build up £150K ie. they aren't skint. Certainly not enough to make you change your life completely for 5 years plus. Sounds like it's a Brexit gripe, I suspect Brexit won't make much difference at all to the vast majority of us one way or the other.

[zerosum]

I wouldn't class the potential saving as a cause for 'extreme motivation' if they have been able to build up £150K ie. they aren't skint. Certainly not enough to make you change your life completely for 5 years plus.

Agree a small tax saving is not extreme motivation, with the proviso that being beyond the scope of IR35 and having more ability to provide remote services in the EU could add up to a very substantial gain over the years. Better to move while there is a limited window of opportunity to do so, not paying any big dividends, and move back if the move seems unnecessary with a better view of how things end up, than require a work permit at the local embassy and join the queue behind EU nationals.

Sounds like it's a Brexit gripe, I suspect Brexit won't make much difference at all to the vast majority of us one way or the other.

Your statement is correct in the limited sense that a fish can reasonably ask ‘water? What water?’


Sent from my iPhone using Contractor UK Forum

[cwah]

I'm in this exact situation where I have some cash left in my LTD and ready to move to any better country.

Still looking tbh, I haven't found anywhere worldwide compelling enough to give up my current tax strategy in the uk.

So if you manage to find a great country please share with us.

But for now, I'll keep my uk fiscal residency when I travel around for the sake of flexibility...

[zerosum]

I'm in this exact situation where I have some cash left in my LTD and ready to move to any better country.

Still looking tbh, I haven't found anywhere worldwide compelling enough to give up my current tax strategy in the uk.

So if you manage to find a great country please share with us.

But for now, I'll keep my uk fiscal residency when I travel around for the sake of flexibility...

It's pretty simple anyway, from next year about your only legal option if you want to be able to continue to work is Ireland. Everything else will involve applying for work permits or some other complicated permutation, which will need double- and triple-checking and will not be a right.

[cwah]

It's pretty simple anyway, from next year about your only legal option if you want to be able to continue to work is Ireland. Everything else will involve applying for work permits or some other complicated permutation, which will need double- and triple-checking and will not be a right.

Why would that be? I'm french national with settled status in uk.

I can work anywhere in EU should I want to. And I can keep working in the UK if contract become available.

[zerosum]

Why would that be? I'm french national with settled status in uk.

I can work anywhere in EU should I want to. And I can keep working in the UK if contract become available.

Fair enough. If you're a UK citizen without another passport though the above holds true.

[WordIsBond]

Briefly, given the discussion about pension contributions, be careful of the tax rules in the country to which you move. For example, if you move to the US you might have to pay US tax every year on the gains in your SIPP, and you may or may not have to pay tax on the 25% lump sum if you take it whilst living there.

Be very careful with the rules in your new jurisdiction before you pursue any of these actions.