Setting on a limited outside UK

[davlesstax]

Hello,

For the next few years and maybe much longer I will be working overseas in Europe from Monday to Friday returning to the UK at the weekend.

I will not be earning one penny from UK work.

Currently after expenses I am paying 20% corporation tax on this non uk income. Therefore, wondered if setting up a limited company in Gibraltar would be okay and that I would not have to pay any corporation tax?. Unfortunately, due to UK tax rules I would have to pay tax on my dividends.

I also have two daughters over the age of eighteen so unsure if anyone has experience of inclung children (over 18 years old) as share holders either for a UK company or an overseas one ?

Many thanks for any positive feedback,

David

[BlasterBates]

You will almost certainly be liable for tax in the country you are working in. I would visit a local accountant and register with the local tax authorities. As you are returning to the UK at the weekend you will remain UK tax resident and you will have to declare your income in the UK though they will take into account tax you pay overseas.

Don't set up an offshore company and try and dodge tax, it'll end up very expensive.

[SueEllen]

Don't set up an offshore company and try and dodge tax, it'll end up very expensive.

You forgot to add - both financially and emotionally.

[NotAllThere]

Which country will you be working in?

[davlesstax]

Hello,

Sweden
Finland
Norway
Poland
Denmark
Potentially others in Europe as well

All under the 183 day rule and less than 90 days.

I can understand why I am subject to UK income tax though cannot see why I need to use a UK limited company.

Thanks for your input

David

[stek]

Hello,

Sweden
Finland
Norway
Poland
Denmark
Potentially others in Europe as well

All under the 183 day rule and less than 90 days.

I can understand why I am subject to UK income tax though cannot see why I need to use a UK limited company.

Thanks for your input

David

There is no 183 day rule, each EU state has it's own tax regime, you can't pick and choose. If you retirn to UK each weekend you'll be liable to UK tax too subject to DTA and pay difference to the highest tax regime....

[squarepeg]

If you are domiciled in the UK, you are liable to pay taxes in the UK. Residence is secondary to domicile. See https://www.gov.uk/tax-foreign-incom...iled-residents

[NotAllThere]

For your purposes, you could easily set up a company in a tax haven and bill from that. You personally could stick to being tax resident in the UK, and pay taxes on any money remitted to your from your company. While it may be technically a bit sticky, you'd probably get away with it. I know people who have. I'm not advising you to do this, I am not an international tax lawyer.

[davlesstax]

Hello,

I agree for income tax, but the limited company is not a person. I am liable for UK tax although not earning a penny in the UK, but to me the company does not have to be UK based.

The link is for me and not for the company that I work for.

David

[davlesstax]

Thanks. I agree. Not too sure what to do, but think that I can use a limited company that is based in a tax haven.