Optimal setup for high income UK resident?

[biffer]

So grateful to have found this forum first of all

I am a high income earner from the UK (7 figs from biz yearly).

Ideal situation is to mitigate as much tax as possible while still being able to visit / live in the UK as often as possible

a further complication to the scenario is that I need the UK business setup for payment processors etc

my current thoughts are to get a Dubai residency & biz & bank, and either transfer the company to UAE and move there, ideally keeping the UK rebiz alive but not being corp tax resident in UK

I also have another stream of income which does not require the processors etc.

can any smart people give me the low down on whether there is any way to avoid CORP tax ideally (not too bothered about paying personal tax) in the UK, either for my main existing company that needs processors, or for the second stream of income which does not, ideally while being able to live often in the UK

I am currently in the process of setting up a UEA biz/residency/bank account, but wondered what the implications would be for living mainly in the U.K. is with regards to tax.

I know management and control of the biz is what it comes down to, but is that just for personal tax or corp tax too?

I realise this is a real messy post but wondered if anyone had hard facts regarding anything I’ve mentioned

TLDR; is there any way to mitigate corp tax specifically whilst still being able to live for periods of time in the U.K.?

thank you to anyone who reads this

 

[uplana]

my current thoughts are to get a Dubai residency & biz & bank, and either transfer the company to UAE and move there, ideally keeping the UK rebiz alive but not being corp tax resident in UK

If that is an option at all for you then I would not look any further, get in touch with @Gediminas or @Fred and ask them to get you setup, take a flight to Dubai and find you some nice place to live.

So far it can't get better.

 

[Barney2201]

Relocate to Antigua and pay yourself a large salary and bonus, worst case you pay tax on the days you 'actually' work in the UK. Nicer place to live than Dubai in my opinion and flight times / time zone if workable for UK office hours (We are currently doing this as in similar situation).

Or move to Channel Islands if you are only concerned about reducing corp tax, I think Guernsey has a tax cap for personal tax if you buy a property over £1.5million.

 

[uplana]

Correct me if I'm wrong, but if you relocate to the UK setup a offshore company and all your income is from abroad you don't have to pay tax in the UK from that income the first seven years!

How easy can it be?

 

[manukahoney]

61 days on Cyrpus + depending on your ties 44-89 days in the UK
The rest - anywhere you want, just don't spend more than 183 days in high-tax country.

Tax residency in UK: Statutory Residence Test, Domicile, Remittance - a good guide to UK residency.