online business for sale uk
income and corporate tax avoidance?
I live and work in the United Kingdom and I have an LLC in Delaware The reason for the creation of the LLC in the United Kingdom is to avoid paying corporate taxes, Delaware has no sales tax and because the services to online businesses are tax-free (we have an online business). Now that means that I do not work avoiding tax .. hmm our business bank accounts in Germany, we have personal bank accounts in the United Kingdom and Portugal .. I understand and correct me if I'm wrong. I only need to pay income tax for the country I work in (I'm already doing my work full time in the United Kingdom) .. So if I transfer money from my account business bank account in Germany to my personal uk I have to declare this money and pay taxes for them … What happens if the deposit i money on my account in Portugal (non-resident of that country), then remove form in Portugal .. I guess I do not have to pay tax in the United Kingdom .. Is that correct?
You'd better post this on the forum of the United Kingdom – or, better yet, consult a tax professional with experience in tax International, because I think you have ideas that need to straighten! Generally, tax income countries, either on the basis of the source, or residence of the owner, or both. As a resident of the United Kingdom You are taxable in principle on your income, if I do not understand some income can not really be taxed until it is received in the United Kingdom. If you have income from sources in other countries, however, these other countries may also seek to place you on it. One thing you probably do have right is that the LLC itself should not you exposed to tax on income from the United States. I am not at all sure that it is effective to protect the tax in the United Kingdom, Best yet. For professional advice and ensure that you are not working under a mistake – and to pay penalties in the process!
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