Page 1

==== ==== Pay Zero Taxes Like The Wealthy Do ==== ====

Everyone within the UK must pay tax to HRMC (HM Revenue and Customs), regardless of their financial situation. Tax evasion is the general term for efforts to not pay taxes by illegal means, and this is a serious crime within the UK. Tax avoidance, by contrast, is the umbrella term used for legal effort to minimise the amount of tax you pay by making full use of the advantages posed to individuals who have a knowledge of the workings of UK tax laws. This article will examine a few of the ways in which you can minimise the tax you pay. One of the most effective forms of tax avoidance involves making use of the tax rules governing offshore accounts. Belize is regarded as being one of the best offshore companies. It is located in one of the most economically and politically stable countries within Central America, there is complete confidentiality, there are no requirements for accountancy services and as a result no hidden costs, and finally there is no audit. In addition Belize offers offshore internet banking and even an offshore debit card to give you full access to your money as and when you need it. Setting up an LLP, or Limited Liability Partnership, within the UK is also possible since 2001. The benefit of doing so is that an LLP is tax transparent, which means that the LLP itself does not pay any tax, it is only the Members who pay tax on what income or gains they receive as a result. If an LLP is set up by two offshore companies then the partnership only pays the lower offshore flat rate tax. Finally, it may be possible to set up an agent company, which is two companies with one being a UK Ltd company and another being an offshore Belize. As a result of the rules pertaining to agent agreements, the UK Ltd company may sign business agreements on behalf of the offshore company, and yet allow it to keep only 5% of the price of the business agreement and pay 95% to a major offshore company. This article is intended only to serve as a brief introduction to the ways in which you can minimise your tax exposure, with further details of the schemes to be covered in my next article.

Mike Novik provides how-to advice on small business and home-based work issues. He helps small businesses reach their fullest potential. His recommendation for to-day is to visit tax planning and tax avoidance.

Article Source:

==== ==== Pay Zero Taxes Like The Wealthy Do ==== ====

Strategy For Less Taxes  

Beat The IRS, Pay Zero Taxes And Its Completely Legal; The Wealthy Do It All The Time

Read more
Read more
Similar to
Popular now
Just for you