AVOID income and coproration taxt


V

Vfereira81

I live and work in the U.K and i have an LLC in Delaware


The reason for creating the LLC in the U.K is to avoid paying
corporation tax,
Delaware has no sale tax and because online business services are tax
free (we have an online business).

Now that doesnt mean that i avoid income tax ..hmm our business bank
accounts is in Germany

we have personal bank accounts in the U.K and portugal..

As I understand it and correct me if i am wrong.

I only need to pay income tax for the country that i am working in( i
already do for my full time job in the uk) .. so if i transfer money
from my business bank account in Germany to my personal uk account i
have to declare this money and pay income tax for them ...

What happens if i deposit this money to my account in Portugal (not
resident of this country ) and then withdraw them form portugal.. i
guess i don't have to pay income tax to the uk .. is that correct ?

Thanks
 
Ad

Advertisements

V

Vfereira81

I live and work in the U.K and i have an LLC in Delaware

The reason for creating the LLC in the U.K is to avoid paying
corporation tax,
Delaware has no sale tax and because online business services are tax
free (we have an online business).

Now that doesnt mean that i avoid income tax ..hmm our business bank
accounts is in Germany

we have personal bank accounts in the U.K and portugal..

As I understand it and correct me if i am wrong.

I only need to pay income tax for the country that i am working in( i
already do for my full time job in the uk) .. so if i transfer money
from my business bank account in Germany to my personal uk account  i
have to declare this money and pay income tax for them ...

What happens if i deposit this money to my account in Portugal (not
resident of this country ) and then withdraw them form portugal.. i
guess i don't have to pay income tax to the uk .. is that correct ?

Thanks
oops mistake i meant the reason for creating the LLC in the DELAWARE
*** not in the UK
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top