Register a Ltd Co in Gibraltar
Discussion
Jordie Barretts sock said:
Yeah I was thinking that.
The whole offshore registration has a whiff of dishonesty about it doesn't it? Why else would you do it except for tax purposes? The avoidance thereof.
Less regulation, less reporting, no stamp duty when you sell it. It’s not used as a business tax wheeze, as that sort of stuff doesn’t work unless you have a real business/substance in the low tax territory. The whole offshore registration has a whiff of dishonesty about it doesn't it? Why else would you do it except for tax purposes? The avoidance thereof.
Jordie Barretts sock said:
Well, that's what I'm asking. I'm struggling to see any upside to it.
1. Funding the tax free purchase of your £millions holiday apartment in Dubai.2. Setting up an offshore tax free trust holding investments which provide a steady income for your children. Investments in the trust can cumulate tax free although the kids' income will be taxable in UK if it exceeds their personal allowances.
In summary - worth it if you're a high roller with an international lifestyle but not worth it for most people.
We looked at offshoring a company back on 2010 when a French company came close to acquiring the company I had a share in at the time. We looked at a number of options including Gibraltar.
The upsides are that there's no Corporation Tax on revenue earned outside of Gibraltar. No capital gains, no VAT and various other inducements. This is all super until you bring that money back into the UK when all the UK tax obligations kick in.
Plus....
The upsides are that there's no Corporation Tax on revenue earned outside of Gibraltar. No capital gains, no VAT and various other inducements. This is all super until you bring that money back into the UK when all the UK tax obligations kick in.
Plus....
Jordie Barretts sock said:
It would just be a passenger transport company contracted to the local council.
Assuming you are talking about UK Local Authorities... none of them will accept bids, tenders or quotations from any business outside of the UK except in very specific circumstances or where there is no UK domiciled provider. Gassing Station | Business | Top of Page | What's New | My Stuff