Any affiliates based offshore?

[Manila]

Hi all,

Been briefly looking into tax havens and when doing so recognised a few countries that some of our affiliate contacts were based in.

It seems quite a complex subject and Ive come across conflicting information.
Does anyone here run there company offshore to take advantage of lower tax?
Have you moved to that country or do you have to spend a certain amount of time in that country per year?

We are in the ideal business as we can work from anywhere where there is an internet connection.

Im based in the UK and our already high taxes are going to get higher and higher in the coming years thanks to the banks bailouts and recent economical turmoil.

Any info, advice on the subject would be appreciated. Only interested in keeping everything legal and above board options.

Thanks in advance.

[u4t2t]

if you want to lover your personal taxes you would ened to move from UK, but if you do this there are many countries where do not tax your income if it is received form outside of your country of residence

[pompeyrayuk]

Have a look here

Hi all,

Been briefly looking into tax havens and when doing so recognised a few countries that some of our affiliate contacts were based in.

It seems quite a complex subject and Ive come across conflicting information.
Does anyone here run there company offshore to take advantage of lower tax?
Have you moved to that country or do you have to spend a certain amount of time in that country per year?

We are in the ideal business as we can work from anywhere where there is an internet connection.

Im based in the UK and our already high taxes are going to get higher and higher in the coming years thanks to the banks bailouts and recent economical turmoil.

Any info, advice on the subject would be appreciated. Only interested in keeping everything legal and above board options.

Thanks in advance.

[casinojack]

If you want to keep it legal 100% above board, I suggest a CPA.

[RayUK]

If you want to keep it legal 100% above board, I suggest a CPA.

Or rather, as the op is a UK person, the UK equivalent (a chartered accountant). There are accountancies that specialise in internet businesses that register abroad. I have no recommendations though as to which are good or not!

[tryme]

You can register a company offshore if you wish, but frankly, as a UK citizen and resident of the UK, it will make no difference. You are taxed based on your country of residence. My advice : don't mess with the Revenue. Your offshore company may attract no tax, but that is irrelevant when it comes to your own personal tax affairs. Speak to a decent accountant. If you can't find one, PM me - my company generates leads for 350+ accountancy firms UK wide.

[Webzcas]

When we lived in Gibraltar after I left Ladbrokes and became a full time affiliate, we set up and operated an off shore company located in the Turks and Caicos. But upon our return to the UK, we closed down the offshore company and setup our UK Limited Company.

As Tryme has stated above, if you reside in the UK even though there are things such as insurance wrappers you can put in place, it is not worth the risk.

If you have to operate an offshore company, don't live more than 90 days a year in the UK.

[eaton2003]

A good resource is http://www.trustprofessionals.com

[bets@betsfreebets.co]

get an offshore company (seychelles, panama) then get a local bank account for your company and wire everything to there, you will only get taxed on what you bring to where you live, would recommend living offshore though...

[tryme]

you will only get taxed on what you bring to where you live

Not true in the UK, I'm afraid.

[casinoranking]

The only way to do it legally is to become a nonresident of the UK. Move to a tax haven with zero income taxes and avoid the hassle/cost of an accountant and filing taxes on top of it.

Options in the caribbean:

Bahamas
Turks and Caicos
Cayman Islands
Anguilla

Personally I think nassau in the bahamas is a dump but thats where most people choose.

Cook islands off the coast of australia is a good option. Seychelles off the coast of Africa sounds ok but it's really far from anything.

[u4t2t]

best would be to move in some tax free location, best would be in caribbean or central america

[Betpartners]

You really do need to move to the offshore location if you do not want to be hit on your personal income.

It is one thing having low business tax, that in itself is fairly easy to sort, but it is the income that you get from your business that will be taxed where you live, same now applies generally speaking if you dont take a wage but instead take dividends.

Also be aware of double taxation treaties which are now sprouting up everywhere.

The days where you can basically pay almost no tax but retain your current residency is over, the UK government along with many other countries are now closing loop holes left right and centre and using terrorism legislation as its weapon.

But i am no tax expert and as in anything it is always best to take the advice of an expert in the field.