How do you transfer money from a UK LLC bank account to a tax haven bank account (Lets say, a Cayman Islands LLC) in order to avoid paying any income tax whatsoever?
My general understanding is it's highly frowned upon to send it directly. This is because it will immediately get flagged for tax and as a result you need to 'bounce it around' so to speak using LLCs in places like Malta, Cyprus and the Channel Islands.
Can someone please explain the journey of that money from a UK LLC bank account to a tax haven bank account to me, as I can't figure out the exact path people actually used to avoid paying any income tax. I understand it changes over time, but I believe there's got to be some paths that have stuck around over time.
My general understanding is it's highly frowned upon to send it directly. This is because it will immediately get flagged for tax and as a result you need to 'bounce it around' so to speak using LLCs in places like Malta, Cyprus and the Channel Islands.
Can someone please explain the journey of that money from a UK LLC bank account to a tax haven bank account to me, as I can't figure out the exact path people actually used to avoid paying any income tax. I understand it changes over time, but I believe there's got to be some paths that have stuck around over time.