Guys I won't do it. I'm from the UK and I'm going to be taking over my parents company, the pay 50% of their profits to the government, is there any way to pay very small amounts? I always hear stories of how huge corporations pay tiny tax bills, iwannahavetinytaxbillstoo.avi found this comment on Black Hat Forums, is it bullshit or would it work? Also general offshoring thread.
(Post on black hat formus that I found continued).
>>1145433
Waste of time doing all that shit.
Get a good accountant and you'll end up paying hardly any tax anyway. And it's legal!
>>1145435
Are you from the UK chum?
>>1145433
Don't read some shit forum on how to do it, research how tech companies do it. Apple pioneered the double Irish with a Dutch sandwich and they pay less than 0.1%
>>1145433
Move business to switzerland
Dude i worked for did that and went from paying 5mil taxes to 50k taxes
>>1145433
you do realise the chancellor reduced tax rates for businesses in his budget today, right?
>>1145433
Well for a start why are they paying 50% tax when UK corporation tax is 20%?
It depends on the business, if you have an online business for example you can set up your company in Hong Kong or BVI etc and pay 0% tax.
>>1145537
Mate the privacy laws in Switzerland are gone, the pressure from the EU fucked it. That dream is over.
>>1145578
My parents pay 20% VAT on their earnings and then pay slightly above 20% tax as they earn over £100k a year. It's a small business.
>>1145576
No I wasn't aware of that, care to elaborate the importance of this? Cant seem to find the answers in looking for when it comes to finding out how this decision benefits small business such as my family's?
>>1145451
The reason massive wealthy transnational corporations pay little to no tax the way the do is due to their size, I need advice on how to apply realistic method to tax reduction on a small business, in fairness to you mate I did mention a big corporation but I just don't think I have the opportunities or power the likes of mark zuckerburg and Steve jobs have/had... Yet.
>>1145578
Also mate it's a service industry I'll be taking over, already up and running in England.
>gain citizenship of tax haven
>pretend my business is headquartered there
>???
>profit
Why couldn't that work?
>>1145641
It works. But according to European law, that I assume the UK also falls under, executive decisions have to be factually made in that country. So you'd literally have to go on vacation there sometimes to make decisions.
>>1145684
The cost of moving and living in a new country may outweigh the cost of simply paying the tax man, again going back to a previous point; true and worthwhile tax avoidance begins when you're earning mega bucks... Thanks for your input though I want aware of that.
>>1145578
because op is a fed that made that up to see if any young bright minds here know anything about that
>>1145622
>fussing about VAT
Kek, just pay it. There's no way around that one. Get a half-decent accountant to keep your burden down, stop fussing about taxes, and grow the business.
>>1145778
I don't know, I hardly doubt that new laws regarding tax will ever touch legal loopholes, because you know... They're legal. Also these new laws won't touch the super elite wealthy billionaires, they'd lose too much money... Is there going to be some kind of new Orwellian tax law that will dig everything up for everyone? I highly doubt it. If the government truly wanted to do something like that they'd have closed every single loophole years ago...
>guise, like, I inherited this company, but like, I have to pay taxes on this company, but I like want to be, like, richer or something, how do I not pay taxes?
>>1146013
Sorry pleb, I'll just be a slave to HMRC because I'm concerned about your opinion. (That was sarcasm... you cunt).
There is absolutely zero chance of you avoiding the taxes.
>>1146402
Pleb
>>1145433
>rather then
that's how you know he's a fucking retard and not to be trusted
earn less than 10600
don't spend any money
invest within tax free wrappers
0 taxes.
