Offshore payments and Ltd contract question

[Andy Hallett]

Offshore payments and Ltd contract question

In fairness to my previous post, the IRS will have nothing to do with it as you are UK based.

Get some proper advice to ensure you pay the appropriate amount of tax. A good accountant will suggest ways of structuring your business to do this. A bad decision could have you wincing every time you pick the soap in the morning, although I am sure he'll only stick it 25% in.

[cojak]

In fairness to my previous post, the IRS will have nothing to do with it as you are UK based.

Get some proper advice to ensure you pay the appropriate amount of tax. A good accountant will suggest ways of structuring your business to do this. A bad decision could have you wincing every time you pick the soap in the morning, although I am sure he'll only stick it 25% in.

[Wanderer]

I'm all for paying my share of taxes, being 100% legal, etc, etc. But on the other hand there's nothing wrong with exploring options. I've been contracting a long time and I've looked into a few schemes in the past, I'm interested in how they work but at the end of the day I don't want an investigation.

There are lots of schemes, we even have a sub forum to discuss them. Have a good read through there and decide which one (if any) you would like to use.

If you are a LTD company outside IR35 then you are only paying 15-25% tax which is pretty low by worldwide standards. I don't know why people bother with the schemes - perhaps they fear IR35 more than their scheme getting investigated and closed down...

[LisaContractorUmbrella]

In fairness to my previous post, the IRS will have nothing to do with it as you are UK based.

Get some proper advice to ensure you pay the appropriate amount of tax. A good accountant will suggest ways of structuring your business to do this. A bad decision could have you wincing every time you pick the soap in the morning, although I am sure he'll only stick it 25% in.

Classic

[fraymond]

You don't say whether you are non uk domiciled. That may have led your accountant to make those comments. Regardless, tax needs to be paid somewhere.