Ofshore Comapny

[Alam]

Hi All

Newbie here

Question - is it worth setting up a offshore company for contractors and what are the best places to do so ? IOM , Channel Islands ?

Any help or advise will be much appreciated

Thanks

[NotAllThere]

Are you a UK resident?

[meridian]

IOM. Set up a Barclays Wealth account there, it looks just like a U.K.- based one.

Many contracts stipulate that your company be registered in England and Wales, so be prepared to lie on your contract or to walk away from available work. Bit of fraud, but who’s looking, eh?

If you’re resident in the U.K., just don’t declare any of the income or the place of your management control of the company.

If you’re resident but non-domicile, pay the £20k or 30k or whatever it is these days, and don’t forget to not remit any of the income back to the mainland.

[BrilloPad]

Yes. Brilliant idea. Any country you want outside the UK.

I positively guarantee you that you will not spend 20 years in prison for tax evasion, pillow biting every night while sharing a cell with some aids ridden thug. Its QC* guaranteed.

*some random poster on CUK told me he had met a guy in a pub who fixed a car for a QC once.

Your cognitive function is as good as Trump's. You definetly do not need to go and see your GP to be referred for sectioning.

Sadly I can't tell you what I really think as this is the professional area of CUK. Hopefully some witty mod(oxymoron or just moron?) will move this to the bear pit where you can be ritually torn to shreds. Come on mods - general could do with some fresh meat......

[northernladuk]

Any help or advise will be much appreciated

ADVICE

[BrilloPad]

ADVICE

My advise is to learn to spell OFFSHORE.....

[stek]

My advise is to learn to spell OFFSHORE.....

And COMPANY.

And learn how to relax your sphincter - you'll need that skill both for the tax man and prison.

[Eirikur]

Hi All

Newbie here

Question - is it worth setting up a offshore company for contractors and what are the best places to do so ? IOM , Channel Islands ?

Any help or advise will be much appreciated

Thanks

Can't think of any contractors who have not set up there company off shore. Join the club

[cojak]

Just to let the OP know, those types of schemes will find you in trouble with HMRC.

We do not encourage or allow others to promote them (Eirikur was being ironic) - you will have to find somewhere else to ask this question.

...and thread closed.