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OffshoreCorpTalk and IRS/HMRC
- Thread starter Rodger
- Start date
No, and we have never had a case about it. I know that some people go completely into paranoia mode and believe that it is possible. Anyway, we don't do that kind of thing, and we have also set it so that our logs are deleted every X days!
But like all other websites and portals, we are hosted in a data center, and of course, we don't know what they log. Therefore, it's always a good idea to avoid too many personal details and to use encrypted internet connections, as we have discussed here thousands of times already.
But like all other websites and portals, we are hosted in a data center, and of course, we don't know what they log. Therefore, it's always a good idea to avoid too many personal details and to use encrypted internet connections, as we have discussed here thousands of times already.
I would be more worried about who you give your documents to, banks you contact, and various agents who help with setting up companies and very creative tax reduction solutions. Those are probably the ones you should focus on the most.
Here on OCT, you just need to keep your mouth shut about what your name is, refrain from providing email addresses in threads as already said keep personal information to yourself. It shouldn't be necessary at all to post personal information or documents here on the forum to get a proper answer.
Otherwise, we have the mentor group which, after all, is not publicly accessible.
Here on OCT, you just need to keep your mouth shut about what your name is, refrain from providing email addresses in threads as already said keep personal information to yourself. It shouldn't be necessary at all to post personal information or documents here on the forum to get a proper answer.
Otherwise, we have the mentor group which, after all, is not publicly accessible.
Or just abide by the laws, and do tax avoidance not tax evasion.
It's not that simple, even if you live in a Western country with supposedly functioning rule of law, and don't even do any tax avoidance, if the tax authorities target you, you can still be financially ruined and/or go to prison.
Special units within tax authorities can fake evidence and use all kind of dirty tactics against innocent people.
Read this thread with some examples, including an interesting one from the Netherlands Who are the most aggressive and least aggresive tax authorities?
And laws/rules and interpretation of laws can be changed retroactively, so what was legal in the past suddenly becomes criminal. Italy does this all the time.
Even happened in Sweden to a guy called Linus Dunkers. He was one of those who thinks it's cool to pay tax, and was super honest and transparent with all his transactions. So he contacted the tax authorities, said he would trade crypto in quite a large number of transactions - tax authorities said ok, thats fine, and it will be taxed at 30% capital gains. Then 5 years later, they said no, it should really be taxed at 60% according to this new rule we just created, and since you only paid 30% now you have to pay the extra 30% plus penalties, plus we are charging you with severe tax evasion maximum sentence 10 years in prison.
And if you go outside the western world, the distinction between law abiding, tax avoidance and tax evasion is even murkier. In some countries, if you are buddy with the dictator there is no tax, and for everyone else, you can randomly be accused of tax fraud and put in prison regardless of if you followed the law or not.
No, it's not always that easy, but keeping one's mouth shut about things that could reveal personal details is actually easy enough.
I reside in a country that is pretty simple.
No tax on income that is derived from overseas if it's not remitted until the following tax year, that changed this year to no tax on income that is derived from overseas unless it is remitted.
Seems rather simple, earn income/dividends/etc and pay tax on remitted.
That means moving, there's numerous alternatives - people seemingly don't want to, so pay the tax of the location and use all the legal loop holes, and thats it.
As for dodgy tax stuff mentioned above (60/30%) kinda obvious they should have moved overseas.
---
Downside, no state pension (worthless), no state medical costs (that costs about 2,00GBP a year / private), no state education (have you seen the kids in the UK).
Pretty much never understood why people simply don't move, even if the business is physical, the tax for yourself would be better spent elsewhere in a better climate.
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I see what you did there!
I like your style! Also, thanks for brightening my day and making me laugh out loud.
In summary: That sentence has got to be the biggest joke/scam perpetrated on indoctrinated sheep. Thankfully, nobody on this forum is so gullible. If it wasn't for the state's monopoly on violence, none of us would voluntarily "submit" Also, that sentence would be lost on +99.99% of the "commoners".
#Respect for figuring this out!
#Bingooooo! 100% this!
I've been saying this
Source: The risk of citizenship by investment programs
since the '80s... After I read this in College for an elective course in Criminal Justice... (US colleges one has to take courses OUTSIDE one's major or minor)...
It was settled....
In the feds, it's a body for a body!
Besides, the USA has been using this for decades:
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But this is overly complicating a simple issue.
I see what you did there!
I like your style! Also, thanks for brightening my day and making me laugh out loud.
In summary: That sentence has got to be the biggest joke/scam perpetrated on indoctrinated sheep. Thankfully, nobody on this forum is so gullible. If it wasn't for the state's monopoly on violence, none of us would voluntarily "submit" Also, that sentence would be lost on +99.99% of the "commoners".
#Respect for figuring this out!
#Bingooooo! 100% this!
I've been saying this
View attachment 6136
Source: The risk of citizenship by investment programs
since the '80s... After I read this in College for an elective course in Criminal Justice... (US colleges one has to take courses OUTSIDE one's major or minor)...
View attachment 6137
It was settled....
In the feds, it's a body for a body!
Besides, the USA has been using this for decades:
View attachment 6138
He is evidently British - the UK government do not charge their citizens for tax unless they are resident and even then there’s the Non Dom loopholes that can be exploited for / by some and to certain degrees.
There’s absolutely no need to hide or fiddle - you can literally move abroad and that’s that.
After the tax residency official or unofficial I.e established or non established (time) has been committed the individual is then tax resident where ever they spend 183 days and if that’s in no specific country then it’s the end of it they don’t default to the UK or any other country for that matter.
When it comes to non resident UK tax the areas they can be taxed is if they own a company in the UK that would be taxed in the UK, and if they derived income in the UK that would be taxed but there’s methods to overcome that with utilizing holding companies or localized management, in addition if it’s not a physical company I.e digital they can over come this by all staff that would bring it into the orbit of the UK would become contractors to a overseas company and overseas would have established substance or sorts to counter HMRC, now that’s if it is a active involved company - if it’s a passive company then its dividends and dividends regardless would be tax exempt to the non resident shareholder like any other shareholder where they would pay tax where they reside - many countries have tax free or low tax or remittance tax for passive dividends.
There’s a host of methods to reduce ones exposure to UK taxes without breaking the law and providing access to the UKs markets.
The issue is rather simple - Brits are too f*****g lazy and don’t want to move, think of a pig in a pig stye - that’s the average Brit , they want all what they see as benefits (they are not) but want to walk a very simplified line and cross over it without being caught - it doesn’t happen that way and they get caught and HMRC rightfully goes to town with them.
So for me it’s a view of KISS (Keep it simple stupid) - structure yourself or your company correctly or both and reduce your and your companies taxes legally - that means moving at the very least.
Once that’s achieved in time reality on a lot of things begin to settle in.
Now if this is a guy (figuratively) evading/avoiding say a couple of grand a month then it’s not probably worth it - just come clean - but if this is someone that has a potential 6,7,8 figure payments /income/dividends - it’s an absolute must IMO.
If I hear “kids, school, health, friends, family” etc I have zero sympathy and absolutely believe they should be shopped to HMRC - as they are taking out of a broken system whilst trying to evade their legally required payments in.
To avoid them, and to also avoid the so called perks of them is to leave, to move, you’ll find your tax savings go much further than the tax you would have paid or attempted to evade or even legally avoided whilst paid by oneself because the state always overpays and under performs compared to the private markets where your money saved overseas goes much further and provides better returns.
I know a British girl about 34 - engineer - whilst the Chinese are operating the Russian Siberian plants with their engineers due to sanctions and the war, she’s a contractor and gets pulled into China (which is currently legal) to do contract work around their plants, like wise a few of the stans which used Russian engineers previously - even (legal) work in Burma, Bahrain, etc
She doesn’t have to pay tax in Thailand unless funds are remitted (like most of the engineering class that reside there) and she doesn’t have to pay tax in the UK as a non resident - basically tax free
So this applies to not just business owners - active or passive but also core staff like skill set people.
The oil riggers have been doing this for decades, same as aviation people - five of my friends here are all ex aviation - HK tax Free, UAE tax free etc but reside in Thailand others in Malaysia, and others in Philippines etc
There’s places like this in Europe, North Africa and elsewhere - the world is your oyster as they say .
No need to evade legally owed taxes - legally avoid them by moving.
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Again I reiterate - loose lips only sink fouled ships.
Be legal and legally avoid or move oneself out of the orbit.
Another area that is usually overlooked is around deferred income/salary/dividends and how that can legally be used for legal tax avoidance - and whether it can be used in the individuals personal circumstances.
Oh - and loose lips sink believed fouled ships.
Just because some people are utterly retarded when it comes to legally corporate or personal tax structures (I have a friend Belgium - dumbfounded and thought only legal people moved to Monaco like his nephew - and everyone else must be dirty).
The moral of the story there one of many is people only generally see from their own perspective so loose lips create the appearance of something untoward - which can sink a ship just because of the weight of HMRC Dreadnaught bearing down on them.
* Note HMS Elizabeth was called for backup but she broke down again in the channel.
* I go to bed at night with a sometimes things on my mind, some times worries (problem solving can be a drain on the brain) other times questions - the one thing I don’t think about is tax - why ? I KISS’d it.
Take that worry off the table and (anyone) will have a simpler life.
Be legal and legally avoid or move oneself out of the orbit.
Another area that is usually overlooked is around deferred income/salary/dividends and how that can legally be used for legal tax avoidance - and whether it can be used in the individuals personal circumstances.
Oh - and loose lips sink believed fouled ships.
Just because some people are utterly retarded when it comes to legally corporate or personal tax structures (I have a friend Belgium - dumbfounded and thought only legal people moved to Monaco like his nephew - and everyone else must be dirty).
The moral of the story there one of many is people only generally see from their own perspective so loose lips create the appearance of something untoward - which can sink a ship just because of the weight of HMRC Dreadnaught bearing down on them.
* Note HMS Elizabeth was called for backup but she broke down again in the channel.
* I go to bed at night with a sometimes things on my mind, some times worries (problem solving can be a drain on the brain) other times questions - the one thing I don’t think about is tax - why ? I KISS’d it.
Take that worry off the table and (anyone) will have a simpler life.
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"we have also set it so that our logs are deleted every X days!"
What sort of logs?
What private health insurance you guys recommend? And from which country? I am talking about providers which do not care about your residency, not some instance provider for additional coverage if you are out have been living in Germany for minimum 2 years etc.
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