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CT for non resident company

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    #11
    Originally posted by WTFH View Post
    Did Finland not work out for you?

    What country are you currently in?

    What pertinent facts are you withholding?

    But as for your question:
    Corporation Tax relates to the company, not the director. So that needs to be paid where the company is based - i.e. the UK.
    Your personal taxes, which are unrelated to the company, are payable based on various factors.
    We decided to try Cyprus for few years first. It has no tax for dividends and only 12,5% of CT.
    As I wrote we are settled in Cyprus and even open branch there for our UK company. But we are trading through the UK company and with UK client. So I believe that we have to pay CT on that income. What I am not sure how that is calculated according to the DTT.
    Our UK company now became a non-resident because it is managed and controlled outside of UK.
    The personal taxes are clear to me only the CT I have question with. Thanks

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      #12
      OK, you need to find a good accountant in Cyprus and a good one in the UK. I doubt if you will be able to get free advice from anyone on here about how best to organise your company and personal taxes while you live in Cyprus.

      You mentioned that you have "opened a branch" of your UK company in Cyprus. How did you do that without getting advice on it first of all?

      Are there any other parts of the story that might be relevant that you haven't told yet?
      Do you actually live in Cyprus or are you only declaring that you live there?
      Do you invoice your UK client from your UK company or from some other company?
      Are you working direct with the UK company or through an agency?
      …Maybe we ain’t that young anymore

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        #13
        I guess Cyprus is too hot for radiators?
        ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

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          #14
          Are there any fat lazy Cypriots who pretend to be IT contractors? Have you ever seen them naked?
          Vote Corbyn ! Save this country !

          Comment


            #15
            CT for non resident company

            Originally posted by Martin Boober View Post
            You can google that this is not true or check the link below
            https://www.profelltd.com/index.php/...k-non-resident
            So from your own link, does your company carry on business or trade outside of the U.K.? To what extent? And for those activities that are carried on within the U.K., why do you believe that you don’t need to pay U.K. CT on those? (To clarify - your original post said you were paying Cyprus tax and you were wondering about topping up to U.K. rates, why do you not think it should be the other way around and you pay UK CT and get a refund from Cyprus?)

            The regulatory framework with respect to the UK non-resident company provisions can be found in Section294 of 1994 dealing with the issue of 'Dual Residency'. Under the aforementioned regulation, it is possible to register UK companies, which may, in the circumstances explained below, trade or carry on business activities outside the UK free of UK corporation tax.
            What else aren’t you telling us, that needs to be drawn out in a game of “20 questions”?

            What does your accountant say?
            Last edited by meridian; 22 August 2018, 09:41.

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              #16
              Originally posted by WTFH View Post
              OK, you need to find a good accountant in Cyprus and a good one in the UK. I doubt if you will be able to get free advice from anyone on here about how best to organise your company and personal taxes while you live in Cyprus.
              Of course he will! I don't see why he wouldn't.
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment


                #17
                In your link, they refer to Section249 and Section294. Is this an ambiguous cockup or a sincere reference to two different sections?

                In the Land of the Blind, the One Eyed Man is King.
                I was an IPSE Consultative Council Member, until the BoD abolished it. I am not an IPSE Member, since they have no longer have any relevance to me, as an IT Contractor. Read my lips...I recommend QDOS for ALL your Insurance requirements (Contact me for a referral code).

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                  #18
                  Originally posted by northernladuk View Post
                  Of course he will! I don't see why he wouldn't.
                  Maybe I should have said "good free advice".

                  I'm waiting for the rest of the story to come out. There's so much missing here I almost spilled my linguini, which is quite difficult to do in an inverted F35B.
                  …Maybe we ain’t that young anymore

                  Comment


                    #19
                    Originally posted by WTFH View Post
                    OK, you need to find a good accountant in Cyprus and a good one in the UK. I doubt if you will be able to get free advice from anyone on here about how best to organise your company and personal taxes while you live in Cyprus.

                    You mentioned that you have "opened a branch" of your UK company in Cyprus. How did you do that without getting advice on it first of all?

                    Are there any other parts of the story that might be relevant that you haven't told yet?
                    Do you actually live in Cyprus or are you only declaring that you live there?
                    Do you invoice your UK client from your UK company or from some other company?
                    Are you working direct with the UK company or through an agency?
                    I think I need an international tax adviser but I do not know anyone.
                    The branch were needed in order to pay CT in Cyprus.
                    We spoken with tax adviser here and that is what he told us to do.
                    I don't think there is anything else relevant to the story.
                    Yes, we are genuine residents of Cyprus
                    Yes, invoicing is from UK company that why I believe it is liable on CT in the UK.
                    Working directly at the moment.

                    Comment


                      #20
                      Originally posted by meridian View Post
                      So from your own link, does your company carry on business or trade outside of the U.K.? To what extent? And for those activities that are carried on within the U.K., why do you believe that you don’t need to pay U.K. CT on those? (To clarify - your original post said you were paying Cyprus tax and you were wondering about topping up to U.K. rates, why do you not think it should be the other way around and you pay UK CT and get a refund from Cyprus?)



                      What else aren’t you telling us, that needs to be drawn out in a game of “20 questions”?

                      What does your accountant say?
                      All trade is with the UK client only. That is what I am trying to answer. How the DTT works in my case, who my company should pay CT. I know that my Company should pay CT on a worldwide income to Cyprus because it is managed from there. But in case when UK company trading in UK I believe the Company will be also liable to pay CT in UK on the profit made there. I would surprised if this is not true.

                      Comment

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