Official budget thread

[jamesbrown]

Excellent news for pension planning

[Protagoras]

https://www.theguardian.com/politics...ncellor-budget

Labour promises to reverse Jeremy Hunt’s pensions giveaway for richest 1%

[JPC]

a camp you'll never see

oh the stealth glasshouse yes of course, very safe choice sir especially when they're fragile.

[sadkingbilly]

Oh dear. Im trying to decide which camp you are. The cut off my nose to spite my face camp or...

a camp you'll never see

[AtW]

IF.. Thanks to my parents i can and do move around.

If you become tax resident of Ireland then you should be ok, but if you stay UK resident then it won’t be so good

[JPC]

Oh dear. Im trying to decide which camp you are. The cut off my nose to spite my face camp or...

[JPC]

If this was true then why bother with 12.5% tax in Ireland when you could have opened company in Isle of Man and pay 0% corp tax?

If top management (you) is resident in the UK then that company will be deemed as if being in the UK for tax reasons, that’s why, otherwise everybody who got foreign clients would dodge heavy UK corp taxation.

IF.. Thanks to my parents i can and do move around.

[jamesbrown]

If this was true

Narrator: it isn't true.

[AtW]

If you are a UK-based company and you want to relocate to Ireland to take advantage of the lower corporation tax rate of 12.5%, it is possible to do so, but you will need to follow certain procedures.

Firstly, you will need to register your company in Ireland and ensure that you comply with all the legal requirements for setting up a business in Ireland. This will include registering your company with the Irish Companies Registration Office and obtaining the necessary licenses and permits to operate your business in Ireland.

Once your company is registered in Ireland, you will be subject to Irish corporation tax on your profits at the rate of 12.5%. However, it is important to note that you may still be liable for UK corporation tax on any profits earned in the UK, depending on the circumstances of your business.

If this was true then why bother with 12.5% tax in Ireland when you could have opened company in Isle of Man and pay 0% corp tax?

If top management (you) is resident in the UK then that company will be deemed as if being in the UK for tax reasons, that’s why, otherwise everybody who got foreign clients would dodge heavy UK corp taxation.

[sadkingbilly]

Had Truss stayed in charge we would have all been marching out of a recession already... the market makers didn't like that decision though.