UK or Swizterland for a company ?

[Fazoule]

Hello,

I have started provide online IT services (cyber security) last year and so far I managed to earn around ~140k£ / year and since I have fixed clients it will most probably be the same (if not more) the next couple of years.

When started it last year I didn't think I was going to earn more than 20 or 30k per year so I was simply wiring the money directly on my personal bank account and declaring this on a Self Assessment tax return.
However, now that my business started become quite lucrative I thought it was time to create a proper structure to try optimise tax as much as possible.

I have the (advantage?) of being Swiss but currently living and working in UK so if needed I can easily create a Swiss company with all the necessary banking.

I have several question:

1) Where should I open my company? UK ? or Swiss ? Or does it even worth creating a company with my turn over and I'd be better of continuing getting payed on my personal ban account ?

2) Is there any creative (legal) solution that would avoid paying to much corporate tax? (Since I'm currently working alone and I don't have much charges to take out from profit, the total profit will be quite high (before salary / dividend)


Thank you!

 

[Martin Everson]

Where are your clients based?

I am guessing you have the option of electing to have the UK resident non-dom status and be taxed on the remittance basis. However that is dependent on whether your clients are outside the UK. Otherwise just establish a UK company and pay the corporate tax.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Fazoule]

All my clients (99% of them) are based in US. About the corporate tax is there some optimisation that could be used to reduce them?

 

[Martin Everson]

Fazoule said:
About the corporate tax is there some optimisation that could be used to reduce them?
Click to expand...

Yes there is optimization you can do.

If you get mentor group access I made a detailed post in there (with calculations) where someone asked a similar question.

https://www.offshorecorptalk.com/threads/best-tax-strategy.29734/post-135981

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[PaulKruger]

WoW I didn't noticed your post there @Martin Everson thanks for bringing this to our attention.