How about a Contractor Owned ManCo?

[BlasterBates]

Yes but if you are working in the UK or Belgium and you are tax resident, you'll have to declare your dividends there, and then they'll be taxed again!!!

I did post the paragraph from HMRC.

Divis are taxed twice...!!

[nodric]

Yes but if you are working in the UK or Belgium and you are tax resident, you'll have to declare your dividends there, and then they'll be taxed again!!!

I did post the paragraph from HMRC.

Divis are taxed twice...!!

If you mean you pay Corporation Tax, and then Dividend Tax, I agree.

The whole idea is to pay zero, or minimal Corp tax, so that when you pay tax on the Dividend the benefit is clear.

Remember in this thread I talk about foreign dividends. HMRC gives a credit of approx. 90% against foreign source dividends, to offset any corp tax paid by the foreign company, assuming a tax treaty exists between them.

If you therefore pay 10% Corp tax, zero withholding on the dividend, and then receive 90% credit for the 10% Corp tax paid, the net result is around 11% tax on the UK divi, assuming basic rate tax payer and obtaining the credit, you make a significant benefit. I'm not a mathematician or an accountant so actuals may vary slightly, but you get the idea.

Interestingly I also discovered that the UK (and Belgium, and most of the EU) have a full tax treaty with Mauritius provided you operate a GBC1 type company. Corp tax for this type of company is 3%, and no withholding tax on dividends! You still get the 90% of the 3% credited. A similar situation exists across the EU to credit tax paid at the Corp level.

However, getting an agency to pay you in Mauritius may be more challenging.

[Sergeant Murphys Cosh]

Any updates on this subject lately?

[Sergeant Murphys Cosh]

Yes but if you are working in the UK or Belgium and you are tax resident, you'll have to declare your dividends there, and then they'll be taxed again!!!

I did post the paragraph from HMRC.

Divis are taxed twice...!!

Fiscuriosa - Tax Topic - Why foreign dividends paid out to a Belgian shareholder are taxed twice ?

[DeludedAussie]

This should be a sticky - For people who dont need the money it makes sense to use offshore companies

[xhak]

i've been reading this whole thing, following the story, the ideas developping... and I feel there is an ending missing?

What did Deloitte say?
Is Nodric in jail or awash with his legally earned money?

[Sergeant Murphys Cosh]

i've been reading this whole thing, following the story, the ideas developping... and I feel there is an ending missing?

What did Deloitte say?
Is Nodric in jail or awash with his legally earned money?

Read my post about double tax on dividends. Kisses Nodric's idea stone cold dead....

As for where he has gone to, maybe he's away with the fairies.

[Lasta]

No news still... I read it, and thoughts, aha, if this is OK-ed by the reviewers, it will become the most successful thing that anybody heard of... was prepared to enlist and all that, when... abrupt stop to all activity. If anybody has any news, please could they please post it here?
Thanks