Checking Out

[saptastic]

I'm done with trying to run a business in the UK. Pension AE. IR35 nonsense. On and on.

I have the option and am taking it. Relocating to America by March.

It's unfortunate for my UK employees, who don't have the same flexibility, but I'm out of patience with this. That's four full-time jobs (including mine) and two part timers gone. Bad for the economy, bad for tax revenue. Too bad, but HMG can at least claim they've been "fair." I'll retain one as a foreign employee here of my new company in America, and convert one contractor in America to an employee. I'll have no problem scaling up with new employees.

There's some things I'll miss about the UK but I'm too old to want to mess with the stuff this regime says you have to do. I was making employer contributions to employee SIPPs before AE came in but it's just more hassles. Everything is more hassles. I'm out.

Best of luck to all my friends here.

Good Luck WIB - let us know if the US is the place to be. Your posts were always detailed and gave good advice....

[WordIsBond]

I will miss you WordIsBond - Your posts were always well thought out and creative. I m happy that you managed to move to the US but can you share a bit more of the story?

For example how did you get a work permit in the US given that H1B visas are very hard especially with all the current unemployed? And what work area you are in? And some market colour on what sort of comp you managed to secure?

Remember that dividends takes from the UK company when outside for five years are tax free in the UK So make sure you last for five years

I always felt attached to the UK because I bought a few properties - Thats what kept me there - But the UK has been in decline for years now and BoJO has only made it worse. Instead of becoming the singapore of europe we are facing years of more taxes and poorer infastructure

EB-5 Investor visa.

We could have done it without that due to Mrs WIB being an American, but we were told this would actually be faster. I could retire but having too much fun with work, and I'll be hiring and expanding, so spending the $500K will be easy.

We do not plan to return except for holidays.

[ladymuck]

EB-5 Investor visa.

We could have done it without that due to Mrs WIB being an American, but we were told this would actually be faster. I could retire but having too much fun with work, and I'll be hiring and expanding, so spending the $500K will be easy.

We do not plan to return except for holidays.

Gizzajob!

[adubya]

EB-5 Investor visa.

We could have done it without that due to Mrs WIB being an American, but we were told this would actually be faster. I could retire but having too much fun with work, and I'll be hiring and expanding, so spending the $500K will be easy.

We do not plan to return except for holidays.

Did you complete the paperwork before the investment amount increased from $500K to $900K ?

[jamesbrown]

Good luck WiB!

Did you complete the paperwork before the investment amount increased from $500K to $900K ?

I was wondering about that too. I vaguely recall the minimum increased to $900k or even $1.8m (depending on location and sector), but I thought that was back in 2018 or 2019.

[adubya]

Good luck WiB!

I was wondering about that too. I vaguely recall the minimum increased to $900k or even $1.8m (depending on location and sector), but I thought that was back in 2018 or 2019.

November 2019 from what I can see.

[WordIsBond]

Did you complete the paperwork before the investment amount increased from $500K to $900K ?

We established residency in Arizona in September 2019 and made our first US hire at the same time. But we maintained operations in the UK, and spent significant time in the UK over the summer. Came back for Christmas with family here and to finally wrap things up here in the UK.

It's pointless to maintain operations in the UK if you can't serve UK clients without having to deal with the idiocy of HR and IR35. One job we bid on, we were told our employees would have to go through an umbrella rather than be employed by us. On another, we were told they'd be determined inside even if they owned less than 5% of the company. Sheer lunatics, can't be bothered any longer.

[eek]

We established residency in Arizona in September 2019 and made our first US hire at the same time. But we maintained operations in the UK, and spent significant time in the UK over the summer. Came back for Christmas with family here and to finally wrap things up here in the UK.

It's pointless to maintain operations in the UK if you can't serve UK clients without having to deal with the idiocy of HR and IR35. One job we bid on, we were told our employees would have to go through an umbrella rather than be employed by us. On another, we were told they'd be determined inside even if they owned less than 5% of the company. Sheer lunatics, can't be bothered any longer.

HMRC have done a really good job of scaring large companies away from personal service companies while screwing small consultancies at the same time.

[Fred Bloggs]

We established residency in Arizona in September 2019 and made our first US hire at the same time. But we maintained operations in the UK, and spent significant time in the UK over the summer. Came back for Christmas with family here and to finally wrap things up here in the UK.

It's pointless to maintain operations in the UK if you can't serve UK clients without having to deal with the idiocy of HR and IR35. One job we bid on, we were told our employees would have to go through an umbrella rather than be employed by us. On another, we were told they'd be determined inside even if they owned less than 5% of the company. Sheer lunatics, can't be bothered any longer.

Very sad. Welcome to the UK. "The world's newest third world country". That message needs to be displayed at every UK airport so arrivals understand exactly where they have arrived.