using an offshore company ?

[BrilloPad]

they want to change the law in April 07 so anyone in the chain can be chased for the debt including the agency.

Who are they? Agencies or government?
Want to change or will change the law?
Do you have a web reference? Or name of new law.

Certain agencies won't deal with a certain schemes - citing spurious regulations. Really they want to sell their own umbrella schemes.

"so anyone in the chain can be chased for the debt" - so if I employ a painter I have to make sure he pays the tax?

[Ivor1]

Cant be bovered to look it up but I put a link on this site somewhere, it was contained with the MSC consultation document. Not sure how much it applies to off-shore schemes though.

[Mickmanus]

Is it legal to use an offshore company ? From what i read the pitfall is that clients might look with bad eye on you.
But then if it was that simple , everybody would be doing it right ?

Yes it is legal but for it to be of benefit to yourself you either need to be non domiciled or find somewhere with a beneficial double tax treaty with the UK

[2uk]

phuuu , I am too tired to think about all this right now. But this is definetly a idea to consider ( maybe further on ) . I guess the thing to do is to find some one who understands all this and pay them some money to enlighten you.

In the "tax heaven" where i reside is, just this, tax heaven. No freakin taxes, no VAT and many many many Fortune Business that are registered here , but their billions do come from elsewhere.

This makes me think that this not a game for everybody.

[cojak]

I guess the thing to do is to find some one who understands all this and pay them some money to enlighten you.

This makes me think that this not a game for everybody.

Correct on both counts.

[The Lone Gunman]

phuuu , I am too tired to think about all this right now. But this is definetly a idea to consider ( maybe further on ) . I guess the thing to do is to find some one who understands all this and pay them some money to enlighten you.

In the "tax heaven" where i reside is, just this, tax heaven. No freakin taxes, no VAT and many many many Fortune Business that are registered here , but their billions do come from elsewhere.

This makes me think that this not a game for everybody.

Paying someone who knows is always a good idea.
They are going to tell you that a company is taxed where ever it is resident. By that they mean where the majority of directors and/or shareholders are resident. Its a bit complicated, but major corporations are so spread out it is easy to accept they are resident where they are registered.
The same rule applies to you, as a one man limited company (I assume) your company is regarded as resident wherever you are tax resident. The local tax laws will apply to you and your company. The only way to revert to your offshore tax regime is to become resident there and then never become resident elsewhere.

I am not qualified to give this explanation.

[XLMonkey]

I am not qualified to give this explanation.

Thank goodness for that, 'cos I am not qualified to understand it, either!

(have a friend who is an international personal tax expert. Well, I call her a friend, but as soon as she starts talking my eyes glaze over and I forget everything she said)

[2uk]

Paying someone who knows is always a good idea.
They are going to tell you that a company is taxed where ever it is resident. By that they mean where the majority of directors and/or shareholders are resident. Its a bit complicated, but major corporations are so spread out it is easy to accept they are resident where they are registered.
The same rule applies to you, as a one man limited company (I assume) your company is regarded as resident wherever you are tax resident. The local tax laws will apply to you and your company. The only way to revert to your offshore tax regime is to become resident there and then never become resident elsewhere.

I am not qualified to give this explanation.

Or maybe , you pay taxes (income tax) where u reside ( say UK ) but the company pays taxes where it resides ( the tax heaven ).

[2uk]

I am not qualified to give this explanation.

LOL This kept the thread goin..

[The Lone Gunman]

Or maybe , you pay taxes (income tax) where u reside ( say UK ) but the company pays taxes where it resides ( the tax heaven ).

No, as an owner/operator the company is deemed to reside where you do (unless you are not the managing director and not a major shareholder).

I own a UK Ltd. company and have been working outside the UK for years. In each country I have worked the local accountant has told me that if I become resident then so does my company. UK tax law is the same.

Those countries that do not recognise our owner/worker setup tax you on the companies entire income as personal income.

I am not qualified to give this advice.

I do not appreciate your response. I am giving you the benefit of my experience, which you asked for. If intend to question the validity of my response then at least tell me on what you base your question.