Thanks everyone for the sage advice. I figured it wouldn't be easy and CFC knocks that idea on the idea.
I imagine the path of trusts is complicated and expensive for a company that's paying 20k a year in corporation tax.
If it makes any difference I should add that I am not looking to divert profit from the current UK company ala Starbucks. My intention would be to trade as the new Gibraltar entity and let the UK company go dormant.
Thanks for that, it's something I have also been considering. The main problem for me is that my retained profit is also my operating capital. I deal in consumer goods, so need cash to buy and sell product.
I could probably put 40% of my annual retained profit in the pension scheme...
Ahh ok, I did not realize. I thought for personal taxation reasons I would still be liable to UK tax but did not realize for business.
Any other suggestions?
Might it actually be preferable to have a resident director? I know you can often pay for this service, it was something I was looking...
I reside in the UK.
I am not looking to avoid tax on dividends. From the research I have done it seems that is extremely difficult to do and I rarely need to take out more than the tax free dividend limit.
This is primarily about managing corporation tax.
I have run my own UK business for 7 years now via a UK LTD company and earn a decent living. Myself and the wife are the owners and only directors and I have no other employees. I pay myself the bare minimum to live a decent lifestyle and retain the rest in the business as my retirement fund...