Re: CSA and Limited Company?

Good advice, anything involving another country becomes extremely difficult
for the cretins at CSA to handle and this is something we should probably
promote more if for nothing else other than just being able to say to them
"it's none of their damned business"

Not something I know a lot about but their must be some countries that are
better than others, any info or pointers to look at and is it easy to
incorporate from the uk or do you have to go there? Do you require a
national to be part of the company or are they just paper exercises. I'm
genuinely interested in this.




"Anon5000" <noreply@xxxxxxxxxxx> wrote in message
news:46ae7bf4_1@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
andy c wrote:
I have through my work a chance of becoming self employed and setting my
self up as a LTD co.

What differecnes will this make to my payments to the thieving barstools
(other wise known as CSA?)

I promised myself I wasn't going to get involved in this newsgroup save
for to ask for the help I just did, but this thread got me going. So
here's a quick response; a few things to think about:

1) Why incorporate here in the UK (I assume this is what you are
thinking of doing)?

There are 200+ countries in the world, most of which have corporate
registries. There is nothing illegal in owning or running a company
incorporated outwith the UK, even if it is trading within the UK. There
is only something illegal about not declaring your income from it ...
Note here, that if you are a UK resident and own and control the
overseas corporation, it *WILL* be tax resident here in the UK, and will
have to pay tax here in the UK as if it were incorporated here. My
friend, the CFC (controlled foreign corporation) rules be your friend in
this scenario, see in detail the HMRC guidance thereon and WORK WITHIN
IT!

2) Why bank your company in the UK ... ibid! ;)

In short, why are you giving the CSA all the power you are? Information
is power, you are giving (leaving, actually) all the information here in
the UK. The CSA is a UK statutory body, which has powers granted it by
the UK parliament: it's jurisdiction does NOT extend overseas, AFAIK.
Think about it, there could be some advantages to NOT having all your
information, records, and CASH here in the UK! ;)

3) Why pay yourself dividends? Why not just roll-up your wealth in the
company, via investing the cash via the company (or a subsidiary/sister
company or parent company - an investment vehicle in short ... If it
don't touch you, it can't be got at, right?!

Never forget the people at the CSA aren't brains of Britain. Play
clever, and more complicated than them; they are on a salary, and don't
have the time, resources or, most importantly, INCENTIVE, to really get
to the bottom of your situation, unless you hand it to them on a plate.
By incorporating your company, banking your company, etc, in the UK,
you are walking right into the trap parliament has laid for you.

All I've got time for I'm afraid, but I if anyone does have any
questions post them back through and if someone on the group is nice and
answers my questions, I'll be nice and try answer any questions arising
from this post; quid pro quo - the way newsgroups should be, right?! ;)

Anon5000
PS - tip - think OVERSEAS discretionary trust to receive the dividends;
not you!


.

Relevant Pages

  • Re: CSA and Limited Company?
    ... Why incorporate here in the UK (I assume this is what you are ... why are you giving the CSA all the power you are? ... it's jurisdiction does NOT extend overseas, ...
    (uk.gov.agency.csa)
  • Re: advertising for jobs on radio
    ... Some of the best staff I ever came across dealt with the CSA in their ... Either as clients themselves, or partners of clients. ... One thing they would lose the power to do is affect legislation. ...
    (uk.gov.agency.csa)