Tax
Thread Starter
Joined: Jul 2006
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From: North of North
Tax
Hi
I understand that most Eurpoean countries have a reciprocal tax agreement with the UK, so if you pay tax there you don't pay in the UK?
I'm interested to know which country offers the lowest overall rate of tax for either an individual or Ltd Co?
Thanks
I understand that most Eurpoean countries have a reciprocal tax agreement with the UK, so if you pay tax there you don't pay in the UK?
I'm interested to know which country offers the lowest overall rate of tax for either an individual or Ltd Co?
Thanks
Joined: Feb 2012
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From: Cape Town / UK / Europe
A dual taxation agreement means that you won't be taxed twice on the same income. Usually it means that you will pay at the higher rate of the two countries involved.
HM Revenue & Customs: Tax Treaties will give you more information.
HM Revenue & Customs: Tax Treaties will give you more information.
Joined: Mar 2011
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From: Milano
I believe the current top ranking European country for low taxes is Switzerland, especially if you're a big earner (Google Pauschalbesteurung if you think you fall in this group 
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Joined: Nov 2002
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From: time2time
It's not as simple as it might seem as residency plays a big part. As an example if you work, let's say on a contract based in France, but are deemed by HMRC to reside in UK (a minefield on its own) then you will pay tax and social contributions (high) in France but then HMRC will calculate what tax you would have paid in UK and clobber you for the difference but to make matters worse won't take into account the social contributions you made 
All the double taxation treaty does is protect you paying full tax in one country and then full tax in the UK. The only solution is to move to the country of contract if doing so attracts a total tax advantage.
All the double taxation treaty does is protect you paying full tax in one country and then full tax in the UK. The only solution is to move to the country of contract if doing so attracts a total tax advantage.
Joined: Apr 2010
Posts: 7,056
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From: London
welll Um Lifting - if you live in the USA or Australia you pay tax on world wide income
if you live in the middle east you pay almost no tax but then you have no social cover such as a pension, a decent law system or a lot of basic amenities
in general you get what you pay for in this world - I can see the benefits of a low tax but who in their right mind would want to be stuck in a tax haven for the rest of their lives?
if you live in the middle east you pay almost no tax but then you have no social cover such as a pension, a decent law system or a lot of basic amenities
in general you get what you pay for in this world - I can see the benefits of a low tax but who in their right mind would want to be stuck in a tax haven for the rest of their lives?
Joined: Mar 2006
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From: cloud9
You do not pay tax on world wide income if you're Australian. If you are a resident overseas and satisfy certain criteria you are considered "non resident" for tax purposes. It's still restrictive, but not a blanket tax like the US citizens have to put up with.
Joined: Oct 2009
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From: uk
Heathrow Harry - I get the general feel of what you are saying, but not all tax havens are unpleasant places to live. Quite the opposite in fact.
Consider Switzerland, Jersey, Isle of Man, Bermuda, Cayman Islands, Monaco, British Virgin Islands...... The list goes on.
All of which are beautiful places to live and offer very good to excellent social services at a very low tax rate.
Consider Switzerland, Jersey, Isle of Man, Bermuda, Cayman Islands, Monaco, British Virgin Islands...... The list goes on.
All of which are beautiful places to live and offer very good to excellent social services at a very low tax rate.
Last edited by Full Left Rudder; 14th October 2012 at 17:06.
Joined: Feb 2012
Posts: 728
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From: Cape Town / UK / Europe
Consider Switzerland, Jersey, Isle of Man, Bermuda, Cayman Islands, Monaco, British Virgin Islands...... The list goes on.
All of which are beautiful places to live and offer very good to excellent social services at a very low tax rate.
All of which are beautiful places to live and offer very good to excellent social services at a very low tax rate.
Joined: Apr 2010
Posts: 7,056
Likes: 2
From: London
"Consider Switzerland, Jersey, Isle of Man, Bermuda, Cayman Islands, Monaco, British Virgin Islands.."
The Isle of MAN????
Once described to me by someone born there as "50,000 alcoholics clinging to a wind-swept rock in the middle of the Irish Sea...."
The Isle of MAN????
Once described to me by someone born there as "50,000 alcoholics clinging to a wind-swept rock in the middle of the Irish Sea...."
Joined: Oct 2009
Posts: 160
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From: uk
I think you'll find it's 80,000.... 
Of course in the UK the weather is superb and there is nothing like a severe binge drinking problem. The Isle of Man is totally different. Hmmm......
Sorry to be sarcastic but you get my point. The Isle of Man is a beautiful island with a slow pace of life and a very low tax regime. If there were any decent pilot jobs there I would be there in an instant.
Of course in the UK the weather is superb and there is nothing like a severe binge drinking problem. The Isle of Man is totally different. Hmmm......
Sorry to be sarcastic but you get my point. The Isle of Man is a beautiful island with a slow pace of life and a very low tax regime. If there were any decent pilot jobs there I would be there in an instant.
Last edited by Full Left Rudder; 17th October 2012 at 17:02.
