Is this Feasible/Legal?

[LastDon]

I have not used them personnaly but two friends of mine who tend to try to maximise their tax allowances use a company called Tenon for Tax advice and are very pleased with their services.
LD.

[maxima]

erhmm.. considering that the mainstream of the UK politics to bring the country into heaven of socialism, me (who was eating socialist crap for good 20 yrs of my life) can suggest that later on you will find that two things are highly inconvenient - money (and carbon emission). Therefore having money will be strictly punished in every way and eating your own poo will be encouraged... Friday night innit?

[ctrlaltc]

Thanks, that's really helpful!

[ASB]

Thanks, but talked to my accoutant and it seems that they don't know much about this "international tax " question... Any tax specialist in this area?

Not recently used any, so wouldn't be able to recommend. I would imagine your accountants might be able to point you at one of the majors.

Regarding MrsGoofs cooment. She makes a very valid point. Ultimately I would suggest that at a minimum you should pay yourself a salary of 5035 and dividends to the 40% threshold. (i.e. about 35k gross dividends). The reason for this being that it is not going to cost you any more in taxation than has already been paid (i.e. the corp tax).

[MrsGoof]

Note that our lovely Gov. can and WILL change the rules as to what you can and can't do. So leaving your money in a company today may be OK but by the time you come to take it out the rules may have changed and you may have to pay 600% CT or similar.

GB

[ctrlaltc]

Thanks, but talked to my accoutant and it seems that they don't know much about this "international tax " question... Any tax specialist in this area?

[Back In Business]

You accountants should be able to advise you on tax matters.

[ctrlaltc]

Thanks, any good tax adviser you would recommend?

[ASB]

Yes, but you have to be careful. Companies have domicile too and it will be important to ensure the company doesn't migrate (or doesn't have any assets) when you do.

I would suggest that you if you pursue this strategy, you start reading up on a thing called "exit charge".

Discuss the strategy with your new accountants - but you may well need much more specialist advice.

[ctrlaltc]

Hi,

After reading through the advices/experiences posted on the forum, I have now decided to trade under Ltd and have decided to try Nixon Williams - (seem to have good feedbacks.. will let you know my experience.)

I plan to use this Ltd company as my "pension" fund and intend to hold the profit in the company, reinvest them in assets like deposits etc. and take out the dividend later while I retired abroad (non-resident) so that I don't have to pay UK income tax.

However, I am not sure whether this is possible as the HMRC's site didn't give a clear answer... Any comments will be much appreciated.

Many Thanks