Tax...help!
May 25th 2012, 8:40 pm
#1
Just Joined
Thread Starter
Joined: May 2012
Posts: 1
Tax...help!
About to move to the UAE and need a bit of advice. I have a limited company with a large chunk of cash in it and i am the sole director/shareholder. Im moving out to the UAE in the next few weeks for work and will probably stay there for maybe 2-3 years+.
Is it possible to withdraw cash from the business whilst i am in the UAE without incurring any tax?
The other option would be to try and wind the company down and hopefully with entrepreneurs relief pay 10% CGT. Could do with some advice.
Thanks
Is it possible to withdraw cash from the business whilst i am in the UAE without incurring any tax?
The other option would be to try and wind the company down and hopefully with entrepreneurs relief pay 10% CGT. Could do with some advice.
Thanks
May 26th 2012, 11:21 am
#2
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: Tax...help!
About to move to the UAE and need a bit of advice. I have a limited company with a large chunk of cash in it and i am the sole director/shareholder. Im moving out to the UAE in the next few weeks for work and will probably stay there for maybe 2-3 years+.
Is it possible to withdraw cash from the business whilst i am in the UAE without incurring any tax?
The other option would be to try and wind the company down and hopefully with entrepreneurs relief pay 10% CGT. Could do with some advice.
Thanks
Is it possible to withdraw cash from the business whilst i am in the UAE without incurring any tax?
The other option would be to try and wind the company down and hopefully with entrepreneurs relief pay 10% CGT. Could do with some advice.
Thanks
In short no. Even if you are non-resident for tax purposes you are subject to tax on income arising in the UK. Bear in mind however, that you still have a personal allowance so earnings below that level are not subject to tax.
