Dividends and UK residency

[tim123]

Having spent few years in UK .... I’ll have spent less then 183 days in UK

This is a neat trick, how did you manage it?

(and yes it is relevant to the answer you seek)

tim

[Andy2]

I don't do the T word.

If you are leaving for good, or at least not planning to be in business in the UK in the near or medium term future then take the money out the company or spend it. After that, just leg it.

I did

what if they come after you, leg it again ?

[HairyArsedBloke]

Does that mean that I can simply take out all money (after paying VAT, CT, etc.) as dividends and tax it in the country of my residence? (where the dividends tax happen to be 0% )
Or am I missing something?

I don't do the T word.

If you are leaving for good, or at least not planning to be in business in the UK in the near or medium term future then take the money out the company or spend it. After that, just leg it.

I did

[ASB]

Simple question really.
Having spent few years in UK I’m about to leave for good and need to take care of the sum sitting in the company bank account. As per definition, UK isn’t my domicile, and in the current tax year, I’ll have spent less then 183 days in UK - and hence should not be taxed as a UK resident ...?
Does that mean that I can simply take out all money (after paying VAT, CT, etc.) as dividends and tax it in the country of my residence? (where the dividends tax happen to be 0% )
Or am I missing something?

The company can pay dividends to whosoever are it's shareholders. And as you surmise these are taxed in the countrie(s) where you are tax resident in accordance with any DTA between them. You may or may not be resident in the UK this year depending upon a number of factors and how you arrange to leave. If you are not resident this year then the UK will have no interest in the dividend from a tax point of view.

In any event you don't get the dividends "tax-free" corporation tax has, of course, been paid on the profit to generate them. The only advantage is that they will not be subject to higher rate tax (in the UK at least) once the 40k ish income threshold is breached.

[punkie]

Simple question really.
Having spent few years in UK I’m about to leave for good and need to take care of the sum sitting in the company bank account. As per definition, UK isn’t my domicile, and in the current tax year, I’ll have spent less then 183 days in UK - and hence should not be taxed as a UK resident ...?
Does that mean that I can simply take out all money (after paying VAT, CT, etc.) as dividends and tax it in the country of my residence? (where the dividends tax happen to be 0% )
Or am I missing something?