• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

  • You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
  • You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
  • If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

Previously on "Having Estonian e-resident company and expensing my UK limited company"

Collapse

  • Sub
    replied
    Originally posted by Vivicou View Post
    Hello,
    I am thinking to use an Estonian company because of Brexit in case it is turning bad and to have Euro in the bank instead of pound.

    Thanks
    If you just looking for EUR account outside UK - you'll be better off if you just open bank account in Estonia for your UK company:
    Opening a current account for businesses registered abroad | SEB

    Creating any artificial turnover is risky and will require consultations from both UK and EE accountants.

    Leave a comment:


  • northernladuk
    replied
    Originally posted by Lance View Post
    still on just the 2.
    Hey I give my advice freely, and to coin a phrase 'you get what you pay for'.

    IANAL/IANAA
    Damn straight. Just pullin' your leg.

    Leave a comment:


  • Lance
    replied
    Originally posted by northernladuk View Post
    Dunno. Just wondered if you were doing a 'Lance' or were OK in this instance
    still on just the 2.
    Hey I give my advice freely, and to coin a phrase 'you get what you pay for'.

    IANAL/IANAA

    Leave a comment:


  • northernladuk
    replied
    Originally posted by Lance View Post
    Yup.
    Sentence 1 is completely accurate.
    Sentence 2 seems pretty good.
    Sentence 3 is pure speculation, but I still believe accurate.
    Sentence 4 is just common sense.

    What do you think is wrong?
    Dunno. Just wondered if you were doing a 'Lance' or were OK in this instance

    Leave a comment:


  • Lance
    replied
    Originally posted by northernladuk View Post
    You sure that's right?
    Yup.
    Sentence 1 is completely accurate.
    Sentence 2 seems pretty good.
    Sentence 3 is pure speculation, but I still believe accurate.
    Sentence 4 is just common sense.

    What do you think is wrong?

    Leave a comment:


  • northernladuk
    replied
    Originally posted by Lance View Post
    I'm not aware that it is explicitly illegal.

    However if you gain a tax advantage from it, and it is deemed that the setup has been done purely for that purpose then it falls under GAAR.
    https://www.gov.uk/government/public...ti-abuse-rules

    It would certainly increase your chances of an investigation.
    Wouldn't you be better off to run a normal UK business and invest your personal cash in Euros (Bitcoins, USD, gold etc.) as you desire?
    You sure that's right?

    Leave a comment:


  • malvolio
    replied
    If you are UK resident and earning money in the UK then you have to pay UK taxes. Your suggested arrangement will still result in a BIK charge on you personally. The taxman would most likely see this as a sham arrangement (even if it isn't) and assume you are trying to evade taxes.

    So yes, it is legal, just a very bad idea.

    Instead, why not move your UK profits into a Euro bank account. Not that you need to anyway, the pound may go down - or even up - post Brexit but it isn't going to fail.

    Leave a comment:


  • Lance
    replied
    I'm not aware that it is explicitly illegal.

    However if you gain a tax advantage from it, and it is deemed that the setup has been done purely for that purpose then it falls under GAAR.
    https://www.gov.uk/government/public...ti-abuse-rules

    It would certainly increase your chances of an investigation.
    Wouldn't you be better off to run a normal UK business and invest your personal cash in Euros (Bitcoins, USD, gold etc.) as you desire?

    Leave a comment:


  • Having Estonian e-resident company and expensing my UK limited company

    Hello,
    I am thinking to use an Estonian company because of Brexit in case it is turning bad and to have Euro in the bank instead of pound.

    Now I am wondering if it possible to invoice my UK limited company with the Estonian one so that my expenses are going thought the Estonian one.
    For exemple, my Estonian company would provide the accommodation, food and other living cost to the UK limited company. I will need to create a monthly invoice with all cost from the Estonian company to the UK limited company.

    The problem is that I am wondering if it is legal ?

    Thanks

Working...
X