Reply to: transfering profits offshore

[diseasex]

A bit of a myth, that big co's just "get away with it", i.e. HMRC just turn a blind eye.

http://www.taxjournal.com/tj/article...ments-26112015

Big corporations are taken through the mill. They can however afford very expensive lawyers.

You can do what Google do, but first you need a valuable marketing trademark worth a lot of money. What Google and Starbucks do is put their Marketing assets in an offshore company. They then charge out the marketing rights to the UK company.

If you could turn up to customers and say "I'm Google" and you have all the rights to sell all their products, you'd make a lot of money yep? and therefore you'd pay through the nose to get those marketing rights.

How would you value your marketing assets of your company "diseasex Ltd" ? my estimation would be that it is probably worthless in that respect.

What you need to do is make a huge name for yourself first, then you can setup an offshore company and charge out.

Putin bought shares and withdrew from the deal , Which incurred high fees. I'm sure there are other examples

[FarmerPalmer]

No UK agent will work with an IOM Ltd company so that kinda rules out that plan

But an IoM company can invoice a UK company, and the UK company can invoice the agency - just adds a bigger consultancy chain

[BlasterBates]

A bit of a myth, that big co's just "get away with it", i.e. HMRC just turn a blind eye.

http://www.taxjournal.com/tj/article...ments-26112015

Big corporations are taken through the mill. They can however afford very expensive lawyers.

You can do what Google do, but first you need a valuable marketing trademark worth a lot of money. What Google and Starbucks do is put their Marketing assets in an offshore company. They then charge out the marketing rights to the UK company.

If you could turn up to customers and say "I'm Google" and you have all the rights to sell all their products, you'd make a lot of money yep? and therefore you'd pay through the nose to get those marketing rights.

How would you value your marketing assets of your company "diseasex Ltd" ? my estimation would be that it is probably worthless in that respect.

What you need to do is make a huge name for yourself first, then you can setup an offshore company and charge out.

[meridian]

Yeah just freaking invoice your english consultancy some fees and you have money transfered which is LEGAL... Not news , i know, just pissed that everyone does it and not me because I don't want headache.

Yes, probably legal(ish). The trick is to get the money back again without incurring any tax on it personally.

[WTFH]

If everyone does it , why don't we?

wealthy getting wealthier, whereas we are working our asses off
google, starbucks or cameron's father to name a few

Um...
1. We are (relatively speaking) wealthy.
2. We are (relatively speaking) not working our asses off.
3. We are (relatively speaking) paying less tax than if we were employees.




So, stop feeling so hard done by. Think of how much you earned back in your home country. Think about how many BMW M5s you could have bought back then. Now you've got more money you're getting greedy very quickly. Stop it. It's not big and it's not clever.

[diseasex]

FTFY

haha ok

[MrMarkyMark]

FTFY

just pissed that everyone does it and not me because I don't want @rse ache.

[diseasex]

Be a pioneer, try it out and post back here, with the results.
I understand HMPs have full broadband access, now.

Don't forget to pack your lube, if you are a "first timer"

I know dude. Prefer to sleep at night to be honest. But this whole case pisses me off.

[diseasex]

Yeah just freaking invoice your english consultancy some fees and you have money transfered which is LEGAL... Not news , i know, just pissed that everyone does it and not me because I don't want headache.

[MrMarkyMark]

If everyone does it , why don't we?

wealthy getting wealthier, whereas we are working our asses off
google, starbucks or cameron's father to name a few

Be a pioneer, try it out and post back here, with the results.
I understand HMPs have full broadband access, now.

Don't forget to pack your lube, if you are a "first timer"

[SimonMac]

Yeah but opening a LTD on IOM won't be that expensive. 0% CT and if i've read that correctly 0% on dividends too.

No UK agent will work with an IOM Ltd company so that kinda rules out that plan

[diseasex]

Yeah but opening a LTD on IOM won't be that expensive. 0% CT and if i've read that correctly 0% on dividends too.

[SimonMac]

If everyone does it , why don't we?

wealthy getting wealthier, whereas we are working our asses off
google, starbucks or cameron's father to name a few

Economies of scale basically, the typical contractor will at most have £50k a year in tax liabilities so not worth going through the expensive process of hiring the likes of Fonseca Mossack, the sums involved in off shore start in the millions

[scooterscot]

Because there's a different rule of law for small people.

[northernladuk]

If you need to ask that then you are not worthy.