I'm considering opening DubaiCo & staying below the £50k CFC exemption, but don't want to fall foul of GAAR. Do you know if they would apply GAAR in that circumstance? Also can you get a UK bank to provide a bank account for it?
Hey man - my understanding is that if you spend less than 30 days in UK you are automatically non resident even without spending 183 days in dubai - is that correct?
Thanks for responding . so your profits are still subject to UK 25% corporation tax, and the distributions in the form of salary or dividends is taxed where your a tax resident. to in this example UAE. Meaning your left with 75p on the Pound. Is the salary a tax deduction on the UK LTD? reducing down the taxable profits to reduce the 25% tax burden. @@JoshuaTharby
Hey Joshua, just moved to Dubai and set up a free zone company. 70% of my income comes from UA-cam but just realised there might be a problem with TIN. Could you advise me on this? I know I have to wait 183 days and then transfer across, but how do I do this in an easy step-by-step guide? @JoshuaTharby Thanks D
I'm considering opening DubaiCo & staying below the £50k CFC exemption, but don't want to fall foul of GAAR. Do you know if they would apply GAAR in that circumstance? Also can you get a UK bank to provide a bank account for it?
Hey man - my understanding is that if you spend less than 30 days in UK you are automatically non resident even without spending 183 days in dubai - is that correct?
what about the earnings on your property in the UK? do you own property in the UK through a UAE company or UK LTD paying respective corporation taxes
Through a UK company and still subject to UK tax, salary and dividends tax free
Thanks for responding . so your profits are still subject to UK 25% corporation tax, and the distributions in the form of salary or dividends is taxed where your a tax resident. to in this example UAE. Meaning your left with 75p on the Pound. Is the salary a tax deduction on the UK LTD? reducing down the taxable profits to reduce the 25% tax burden. @@JoshuaTharby
What do people with kids do?
Spend a little longer in Dubai and travel during school holidays
What's the actual difference between being a resident and citizen then?
Resident is where you live, citizen is your passport
It’s something I am interested in and would like some help
Happy to help - jsmtax.as.me/taxsmart
Be great to have a call ....
Can you get stripe in Dubai and sell digital services in the UK VAT free?
Customers pay in £’s, settle the amount in Dubai bank account
VAT is a complex area with digital services and can be difficult to avoid
Bore off
Hope you're enjoying the videos!
Hey Joshua, just moved to Dubai and set up a free zone company. 70% of my income comes from UA-cam but just realised there might be a problem with TIN. Could you advise me on this? I know I have to wait 183 days and then transfer across, but how do I do this in an easy step-by-step guide? @JoshuaTharby Thanks D
Sure email joshua@jsmtax.com