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.
- Are there Special Rules for Agencies? 353 8
- Client RTI Shows payments not his 145 4
- UK company paying dividend to foreign shareholder 142 3
- LLP as member of LLP 99 1
- Why should I retain membership? 2,748 48
- B2B vat in the EU 141 3
- Coding Notice 166 4
- Alerting clients versus walking away from clients 455 7
- Vat 285 7
- SA online - 4 hour limit 1,281 13
- Recharge for private use of a company car 198 3
- Funding Circle Servicing Fee 166 2
- Surprise visit from HMRC! 2,496 18
- CT/CIS offset 148 2
- Statutory accounts, current company address, or one that was correct at EOY? 197 4
- Trade name 197 3
- Musician - Allowable Travel expenses 145 1
- New business - journal entries 325 20
- Stamp duty on multiple property transaction 320 18
- VAT on deposits 214 2
- Auto enrolment excuses 823
- Feedback on accounts production software for IFRS 711
- Add T&Cs to Sales Order in Sage 394
- Social investment tax relief 210
- Digita Hosted Software 205
- Call Centre Data Costs 195
- Buying goods in US and selling them to company in US 163
- Travel costs and contractors 159
- Problems with Sage 50 Payroll v21(2015) 149
- accounting for this transaction 147