avoiding high rate tax

[backlight]

Does anyone know what the rate on the exit charge is?

[Andy2]

Just checked with my accountant who sees no problem with this plan

Also according to him I can invest in shares or property with company money
Has anyone done that ?

[Andy2]

Just one. Once you are abroad in the tax haven can't you just take it all out in one go instead of 40K at a time?

Two reasons for that
1. Don't want to pay higher rate tax
2. Don't want IR to chase me in another country for doing a runner with company money

[TheFaQQer]

Just checked with my accountant who sees no problem with this plan

Also according to him I can invest in shares or property with company money
Has anyone done that ?

Has he discussed the different taxation that an investment company attracts? I'm not sure what it is off the top of my head, but there is a different tax regime for a company only doing invesments, which is what you will be doing.

[tay]

Great thread as I am planning on doing exactly the same thing next year. I dont want to turn the company into an investment company, just bleed it dry over a ciuple of years.

[ASB]

Does anyone know what the rate on the exit charge is?

If I recall it is charged as CGT. The key question of course is whether the company does become non resident.

You can start your search here:-

http://www.hmrc.gov.uk/manuals/CG1manual/CG13430.htm

This is one of the reasons often cited why it can be a poor idea to own property in a company.