Recommendations needed

[Vlad]

Hi to all.
I work for a cleaning company that covers London only and we are facing a lot of taxes as the company is registered in the UK. We are looking for some offshore solutions to this problem so I wish to ask the experts here what would you recommend? All the workers are contractors with us. Would a company formed in Cyprus, for example, be a viable solution? Or Isle of men? Can we make a kind of corporation or LLC would be ok? The company now is an ltd.

 

[negon]

You live in the UK, your company operate only in the UK / London and your workers are contracted with a UK firm.

hmm, wonder how you want to take this offshore with legal acceptance from the UK tax office!

Consult a local tax advisor or even attorney!

 

[Vlad]

My thinking is to form the company corporation in a country like Cyprus and make the UK one a kind of sub-entity (?I don't know the exact legal term). Due to double taxation to pay taxes only in Cyprus as a main company.

 

[Vlad]

Just to state the owners are from Macedonia but also have Bulgarian passports.

 

[Yaroslav]

Hong Kong company may be a good solution for your case.
But still, before the final decision, it is better to give more details to your lawyers.

 

[Juoffshore]

UK applies the central control of management to determine where your incomes will be taxed. So if you incorporate an offshore company (Cyprus or whatever) and you continue to work from the UK, the cyprus company would be taxed as a UK one