UK BN66 / Section 58 / Contractor Offshore Schemes

Martin Everson

Offshore Consultant
Business Angel
It's an 8 year old article from 2011 but interesting as HMRC don't play around eek¤%&.

P.S HMRC can go back 20 years or so if they suspect deliberate tax evasion.
 

Reboot

Building Trust
Entrepreneur
Yeah, that's why some companies in UK don't want to be invoiced for services from a US LLC... They can be asked to prove the company IS NOT theirs.
 

Reboot

Building Trust
Entrepreneur
BTW, in the end and because of this, I ended up creating also a company in Portugal, it is literally a 5-minute job, 220 eur setup cost.
 

darkster

Trusted Member
Business Angel
Mentor Group
Commercial Service
BTW, in the end and because of this, I ended up creating also a company in Portugal, it is literally a 5-minute job, 220 eur setup cost.
What exactly did you get out of it if you don't mind to tell about?

I don't see why creating a company in Portugal changes your personal residency status?
As he said, it won't. Generally speaking if you setup a company anywhere it does not change your personal residency status, forget about that!
 

Reboot

Building Trust
Entrepreneur
I just figured out that using an off shore wasn't cost worthy, it can use different ways to take money out of the company in Portugal and pay less taxes legally.
 

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