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.
- Double tax treaty Italy and UK 83 1
- Anyone Heard of This Outfit? 1,089 7
- Increasing the personal allowance: A top priority? 458 17
- Bereavment payment 53 1
- Can anyone advise on the best VAT Scheme to change to? 264 4
- Apologies for reposting this but first post was on Friday afternoon! 336 2
- CT600 Computations - Company Tax Return help 1,289 14
- Sage Bank Reconciliation 139 2
- Companies House incorporation service 336 12
- Factors affecting tax charge FRS 19 (marginal rate) 69 1
- P35 and Service Company questions 143 3
- VAT chargeable to conference attendees 189 6
- Is Accountancy Becoming like an Insurance Policy 193 1
- Long period of account for Corporation Tax 257 7
- Flat Rate VAT and EU sales (Non VAT) 136 3
- NIC £2000 Allowance - Care Support Worker 146 3
- VAT, vans, sole traders and business use. 1,595 12
- Share Capital 124 2
- Trading income or not? 188 1
- Charge HMRC 416 3
- Xtuple 545
- Qtac payroll for bureau 374
- Confused - Professional Association a Mutual trader, or not? 315
- Industrial & Provident Societies 312
- Why would HMRC offer to close an investigation by contract settlement 288
- CIS schemes 220
- Domain name sale and limited company 204
- Investment 184
- Director legal fees in loose connection to the company 183
- Italian friend wants to set up a UK company to reduce taxes 177