Setting up a company in Jersey

[malvolio]

ISTR that operating out of Jersey is fairly easy, getting a licence to operate in Jersey is the hard part. A bit like buying a home and gaining residency over there, the entry criteria can be quite severe.

[Scruff]

Thank you, Scruff!
Would you be so kind and elaborate a bit more about those rules?
Are to referring to where the company is being operated from?

Initial search for accountants suggests that the costs of operating from Jersey would be around 5K per year, which is considerably less than what I pay in Corporation Tax.

I also want to shield myself from any retrospective taxes HMRC might introduce to pay for Tories' covid spending :-)

See NLUK's post above ^

I am not insured to give you advice. I am a Radiator Bleeder / Gladiator.

[northernladuk]

We can't help you. Why not speak to a specialist.

Jersey company setup, Set up a business in Jersey

[JakubKonecki]

There are some very interesting rules about operating from Jersey, and you might find that it is cheaper to pay Corp Tax in the UK, as opposed to Accountants and Lawyers in Jersey...

Thank you, Scruff!
Would you be so kind and elaborate a bit more about those rules?
Are to referring to where the company is being operated from?

Initial search for accountants suggests that the costs of operating from Jersey would be around 5K per year, which is considerably less than what I pay in Corporation Tax.

I also want to shield myself from any retrospective taxes HMRC might introduce to pay for Tories' covid spending :-)

[Scruff]

There are some very interesting rules about operating from Jersey, and you might find that it is cheaper to pay Corp Tax in the UK, as opposed to Accountants and Lawyers in Jersey...

[northernladuk]

I imagine you'll need a specialist to set something up like that. Non of us work this way which speaks volumes.

If it was easy we'd all be doing it.

[JakubKonecki]

your first, and probably only, issue is how are you going to get clients, or agencies to pay you.
Almost all UK agencies will refuse to pay a Jersey based company. Have you asked your non-UK clients if they will be willing to do that?

And here's a starting point https://www.kreston.com/wp-content/u.../10/Jersey.pdf

Thanks Lance!

I have a couple of old clients for whom it won't be a problem.

I'm also thinking about using Jersey company as a parent company for a couple of LTDs in UK I own. Any client who wouldn't sign a contract with Jersey can go though UK subsidiary. But at least those who can would switch to Jersey.

[Lance]

Yes, mainly for Corporation Tax

your first, and probably only, issue is how are you going to get clients, or agencies to pay you.
Almost all UK agencies will refuse to pay a Jersey based company. Have you asked your non-UK clients if they will be willing to do that?

And here's a starting point https://www.kreston.com/wp-content/u.../10/Jersey.pdf

[JakubKonecki]

what are you trying to achieve?
Tax advantage or other?

Yes, mainly for Corporation Tax

[Lance]

what are you trying to achieve?
Tax advantage or other?

[JakubKonecki]

Hello,

I looking for some guidance regarding setting up a company in Jersey (I'm a UK tax resident) for all or some (for clients outside of the UK only) of my work. I'm currently running a LTD registerred in England.

I will be contacting lawyers/accountants in Jersey to discuss details but would like to hear any tips from someone who has set up a company in Jersey (or other Channel Islands) already.
Any things to look out for? Any recommended accountants?

Many thanks in advance,
Jakub