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Income tax for non resident with UK income

Income tax position for non resident with UK investment and employment income

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Director/Shareholder is a resident of UAE and has been for 3 years.  Has owned a UK limited company for 7 years, which rents out residential property.  

There is a large directors loan owing from the company to him. If he chooses to charge interest on this loan at a commercial rate, will the interest paid to him be free of UK income tax and allowable to reduce the corporation tax liability.

If he also decides to pay himself a salary, will this also be free of UK income tax and NI but also allowable to reduce the corporation tax.

If he chooses to pay a dividend then presumably he will pay income tax if he returns to the UK within 5 years?

Thank you for any guidance

 

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18th Mar 2019 23:02

If the amounts are significant, it would definitely be worth speaking to an accountant who is familiar with UK taxation of non-UK residents.

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