Tax query overseas client
I have had a query from a client based in Cyprus looking to relocate to the UK with his family (runs own web design business). He intends to send this son to private school and wants to pay the school fees from the business (will not be able to justify this as a business expense). If he takes a dividend/ withdraws money from the business and brings it into the UK, will he have to pay any UK tax on it?
Also if he starts to run the business from the UK, will the company have to pay corporation tax?
Is there any way he can bring money from Cyprus in to the UK without having to pay any tax on it.
Is their any useful guidance on tax related issues for overseas settlers to the UK, the HMRC guidance is very long and complicated!
Any advice will be greatly appreciated.
- Am i Liable? 71 3
- Fee agreed but client disagrees on amount 732 10
- Checking a contract 284 8
- Flat Rate Scheme 303 15
- Altered PAYE cheque 217 5
- deleting customers on Sage 50 148 7
- VAT on garage rent 316 14
- Value-shifting 57 1
- Pattern for CTA 203 4
- Debiting private use proportion to directors loan account 439 18
- SDLT exemptions/reliefs 78 2
- Incorrect Accounts. Is it worth taking action against the old accountant? 206 3
- Film Partnership Enquiries - am I just unlucky? 232 5
- EBT 174 1
- Tax deductable portion of home rental cost 169 8
- Giving a seminar 524 28
- Joint Filing Help 103 1
- ICAEW student, Dilema with client & boss 2,239 32
- Interest on Loan to a Company 252 2
- Writing off bad debts 182 4
- Desperately seeking Susan, Sam or anyone with any other name 1,202
- Experience with Islamic investor following Sharia-compliant rules? 600
- Darwinpay Partnership Assessment 404
- S464A Charge to tax: conferring benefit & BIK 310
- Bank interest in 'near' facility recall situation 191
- Agent fees to sell business 186
- Alphabet shares 184
- ACCA continuity of practice arrangement needed 180
- Quirky thread of the year: Community Awards 163
- VAT codes In Sage. Am I correct? 158