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Any advantage to being an offshore limited company?

Customloads

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Jul 16, 2011
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#1
I asked a similar question a few years ago, and got some great answers. But putting a slightly different view on things now...

Is there any advantage to self employed security professionals being registered as the sole owner of a limited company that is registered outside of the UK?

Obviously what you pay yourself still needs declaring to UK Revenue and SIA licensing still applies. But the "company" would be able to hold an offshore bank account and genuine business expenses could be paid from there.

Not suggesting a tax dodge here, just seeing what legal advantages there are.
 

SCT

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May 31, 2009
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#2
Interesting.

Looking at this the other way around.....

If a French citizen registers a limited company in the UK and then trades using that company outside the UK only yet still offers "security services" including CP, are they a) subject to taxation in the UK?; and b) are they subject to SIA rules?
 

Carl Dowd

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#3
Mate, although you may be able to be a 'SOLE' owner of a Limited Liability company in the true sense of the word you are not the 'Sole' operator due to Company formation criteria..! It is not the same as being a Sole Trader and remembering of course that as a Director of a LTD Liability coy you are in fact an Employee and therefore, liable to PAYE and HMRC Self assessment criteria on your share holdings in the company...

BTW the loopholes are closing mate and I see today this: BBC News - DPP Alison Saunders announces plan to seize more criminal assets hidden abroad

Not the same I know and of course I am not suggesting at all that you are intimating any illegal activity...

The HMRC I think run a reasonable system for offshore workers be they, Oil or this industry...

Just my opinion CL...

CD
 

geminii

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Mar 7, 2014
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#5
Good points indeed. As for SIA rules aren't they limited to UK territory? Taxation is the big issue here, just have a look in the maritime sector, quite interesting too.
 
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