I have a small IT company currently with 2 shareholders - no residents in the UK. It was launched last month, and the accounts ready day was set for 31-12-2005. Since my career in the UK may not be long for the time being no accountant, the contract runs till mid December ’04, so just for 3 month I don’t think I need a one.
Few questions
1. CT tax. Is the CT related to the accounting period, so the first tax on the company will be due in 2006, or should I pay also for Oct’04 – December’ 04 CT tax first and then Jan-Dec 05 as a second bulk? How is this CT tax related to accounting period?
2. Dividends. What is the tax on dividends for no residents – is it the same as for UK residents (10%)? If there is double tax agreements can this dividend be taxed outside UK?
3. If I increase the number of shareholders to 4 (no UK residents) will I be better off. For this year it doesn’t seem to be of any difference – but if somehow I get a new deal and company runs next year – it maybe another matter – but not sure?
Thanks guys,
Jarek
Few questions
1. CT tax. Is the CT related to the accounting period, so the first tax on the company will be due in 2006, or should I pay also for Oct’04 – December’ 04 CT tax first and then Jan-Dec 05 as a second bulk? How is this CT tax related to accounting period?
2. Dividends. What is the tax on dividends for no residents – is it the same as for UK residents (10%)? If there is double tax agreements can this dividend be taxed outside UK?
3. If I increase the number of shareholders to 4 (no UK residents) will I be better off. For this year it doesn’t seem to be of any difference – but if somehow I get a new deal and company runs next year – it maybe another matter – but not sure?
Thanks guys,
Jarek
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