With regards to UK tax, in a very basic nutshell, yes you are missing something. Tax is due on wages, so if you take it as a salary that it taxable at the normal rate, if you take it as dividends under a certain threshold (currently around 30k/year), no tax is due. Corporation tax is due on whatever profit is made, it depends how your accountant does it, but I would suggest you would be paying tax on about 20-30k not 12k. I do agree with other posters, the lack of clarity on where one is expected to pay tax makes this contract slightly challenging. High taxation in Thailand, and I would not want to play with Thai or Norwegian tax man! Good luck!