UK tax resident with UK Ltd planning a move to Thailand - What are my options?

[tnt500]

Spoke to my accountant who basically said the LLP structure would put me at risk of being penalised for tax avoidance by HMRC as the sole reason for setting it up would be”¦ to avoid corporation tax.

 

[TheCryptoAnt]

kjc500 said:
Spoke to my accountant who basically said the LLP structure would put me at risk of being penalised for tax avoidance by HMRC as the sole reason for setting it up would be”¦ to avoid corporation tax.
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Go with the US LLC, easy to manage and compliant with your current set up

 

[scooterguy]

kjc500 said:
Spoke to my accountant who basically said the LLP structure would put me at risk of being penalised for tax avoidance by HMRC as the sole reason for setting it up would be”¦ to avoid corporation tax.
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Tax avoidance is legal, how can you be penalized for it? Once you stop being an UK resident, you don't owe anything to the HMRC.

Just make sure you do stop being a resident. Spending too much time in the UK (for example, more than 90 days per year) can make you a resident.

 

[tnt500]

scooterguy said:
Tax avoidance is legal, how can you be penalized for it? Once you stop being an UK resident, you don't owe anything to the HMRC.

Just make sure you do stop being a resident. Spending too much time in the UK (for example, more than 90 days per year) can make you a resident.
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I have no idea - just stating the professional's opinion. Apparently there's some general clause/law/something that says they can penalize you if they find you doing anything solely for the purpose of avoiding paying tax in the UK.

I will get a second opinion but I'm always wary of speaking to people that are too willing to go along with solutions just to win my business. I've experience that a few times before and their advice was wrong.

 

[scooterguy]

kjc500 said:
I have no idea - just stating the professional's opinion. Apparently there's some general clause/law/something that says they can penalize you if they find you doing anything solely for the purpose of avoiding paying tax in the UK.

I will get a second opinion but I'm always wary of speaking to people that are too willing to go along with solutions just to win my business. I've experience that a few times before and their advice was wrong.
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If you are a UK resident and have offshore companies to evade UK tax, that is a completely different thing. But if you leave the UK and stop being a resident there, then the HMRC cannot claim anything.

You do have to keep in mind the days you spend in the UK though, and you probably can't stop being a resident until 2024 (you've been too much in the UK already this year).

But I agree, you should get a second opinion, preferably of someone with international tax experience.