Originally posted by meridian
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Anyone operating through an offshore limited company?
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Originally posted by meridian View PostQuestion though - how are you going to get the dough back into the UK without getting taxed on it?- The meaning of life is to give life meaning
- Worrying about tomorrow spoils today
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Originally posted by TheFaQQer View PostI didn't think a nice girl like you did such thingsComment
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Originally posted by Safe Collections View PostThe cayman Islands is so 1990s. All the cool kids are incorporating their dodgy companies in Nevada or Delaware these days...
It's almost as if the VP comes from a tax avoiding stateComment
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Originally posted by TheFaQQer View PostIt makes you wonder why with all the talk of cracking down on tax evading companies in the Senate and the House of Reps, why are they focussing on overseas?
It's almost as if the VP comes from a tax avoiding stateComment
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Originally posted by DirtyCash View PostIf google, amazon and starbucks are getting away with it then surely i can too? I'm thinking to go outside of EU and US jurisdiction considering recent scandals in switzerland. Always fancied a trip to the cayman islands!!
Idea might be to set up a limited company abroad then to charge my UK company some kind of licence/consulting fees. Thoughts/experiences? I figure that I can save £15k/year in corporation tax!!Comment
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So if you save £15k per year, that's a £75k invoice per year from the cayman company. Using a reasonable multiple, that suggests that the IP that you transfer to it is worth around £300,000. There must be quite a lot of tax on that £300,000 you are treated as receiving (even though you get it)?
And as it's your company, the cayman company will probably be managed and controlled in the UK and so it will pay UK tax. So it pays £15k. Oh, HMRC will also say that the £75k paid by your UK company is not for the purpose of its trade and so will disallow it.
So in summary: Tax on £300,000 that you never get. Cayman company paying an extra £15k per year. UK company, no difference in tax each year. Nice one?Comment
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