Mentoring to support business

[Lilou789]

Hello,

I am looking for some mentoring to help get me started on the best privacy plan.

The 2 areas i need some support with:-

1. I run a business in the UK as a standard small limted company that imports detox suppliments/herbs into the UK and sells/ships to our customers mainly in the UK (we used to ship more to the EU but Brexit messed this up). I'm trying to find a way of putting the business into the private - Private Business Trust? The problem i have had is with importing/uk customs/EORI requirements/UPS shipping as this part can't be private. I'm sure there are better structure options out there that i can use to help with privacy/not engaging with tax/vat etc, and I'm looking for some mentoring to help get the new structure set up in the best way. I live in the UK with a UK passport etc.

2. The best option for me getting an EU passport (1st passport UK)? My partner and daughter have dual nationality (UK and French) and i want to find the best/simpliest way of all getting a 2nd passport in the EU.

Thank you for your help

Helen

 

[daniels27]

Lilou789 said:
1. I run a business in the UK as a standard small limted company that imports detox suppliments/herbs into the UK and sells/ships to our customers mainly in the UK (we used to ship more to the EU but Brexit messed this up). I'm trying to find a way of putting the business into the private - Private Business Trust? The problem i have had is with importing/uk customs/EORI requirements/UPS shipping as this part can't be private. I'm sure there are better structure options out there that i can use to help with privacy/not engaging with tax/vat etc, and I'm looking for some mentoring to help get the new structure set up in the best way. I live in the UK with a UK passport etc.
Click to expand...

You mean, you are worried about the import tax documents having your company name on it?

Lilou789 said:
2. The best option for me getting an EU passport (1st passport UK)? My partner and daughter have dual nationality (UK and French) and i want to find the best/simpliest way of all getting a 2nd passport in the EU.
Click to expand...

You are free to settle anywhere in the EU. An option would be Ireland, Malta, Cyprus where you can get naturalised within years.

 

[Martin Everson]

Lilou789 said:
1. I run a business in the UK as a standard small limted company that imports detox suppliments/herbs into the UK and sells/ships to our customers mainly in the UK (we used to ship more to the EU but Brexit messed this up). I'm trying to find a way of putting the business into the private - Private Business Trust? The problem i have had is with importing/uk customs/EORI requirements/UPS shipping as this part can't be private. I'm sure there are better structure options out there that i can use to help with privacy/not engaging with tax/vat etc, and I'm looking for some mentoring to help get the new structure set up in the best way. I live in the UK with a UK passport etc.
Click to expand...

How much is your revenue?

I ask that question as sometimes it is simply not economically worthwhile going down a certain road. In general there are things you can legally do to reduce your effective tax rate if your a very small business as I gave below in 2020 (the thresholds have changed due to UK budgets since but you can input the new ones).

[IMG alt="Martin Everson"]http://localhost/data/avatars/s/8/8698.jpg?1727588489[/IMG]

Post in thread 'Best tax strategy'​

Jun 29, 2020
I don't know what your turnover is annually. But if its less than £100k use a UK company. Then the key is to reduce your effective tax rate.

Have you read my post below in regards to reducing taxes for a UK company. The key would be to make use of maximum deductions

https://www.offshorecorptalk.com/th...ate-tax-residency-in-the-uk.27553/post-113297
I give you an example for UK company with £85,000 income:

£85,000 Income
£40,000 tax deductible company pension contribution (cash account)
£12,500 Salary (tax...

• Martin Everson

Lilou789 said:
2. The best option for me getting an EU passport (1st passport UK)? My partner and daughter have dual nationality (UK and French) and i want to find the best/simpliest way of all getting a 2nd passport in the EU.
Click to expand...

What is your intention with an EU passport? To use it to move to EU or other? Moving to EU should not be too difficult in general and does not require a new passport. Each EU country will have their own immigration policy which you can lookup and follow and possibly eventually naturalize when resident for a certain number of years.

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

 

[Lilou789]

Martin Everson said:
How much is your revenue?

I ask that question as sometimes it is simply not economically worthwhile going down a certain road. In general there are things you can legally do to reduce your effective tax rate if your a very small business as I gave below in 2020 (the thresholds have changed due to UK budgets since but you can input the new ones).

[IMG alt="Martin Everson"]http://localhost/data/avatars/s/8/8698.jpg?1727588489[/IMG]

Post in thread 'Best tax strategy'​

Jun 29, 2020
I don't know what your turnover is annually. But if its less than £100k use a UK company. Then the key is to reduce your effective tax rate.

Have you read my post below in regards to reducing taxes for a UK company. The key would be to make use of maximum deductions

https://www.offshorecorptalk.com/th...ate-tax-residency-in-the-uk.27553/post-113297
I give you an example for UK company with £85,000 income:

£85,000 Income
£40,000 tax deductible company pension contribution (cash account)
£12,500 Salary (tax...

• Martin Everson

What is your intention with an EU passport? To use it to move to EU or other? Moving to EU should not be too difficult in general and does not require a new passport. Each EU country will have their own immigration policy which you can lookup and follow and possibly eventually naturalize when resident for a certain number of years.
Click to expand...

The turnover of the business is £250k to £500k so not under these limits. I'm looking for privacy options - maybe to talk with a member who is an expert in Private Business Trusts and Also World Free Zones for the importing.

In terms of the 2nd passport - We will continue to live mainly in the UK. 2nd passport for future options so I have a UK and EU passport like my family.

 

[Houdini]

there are many consultancies around here, just check the forum and use some of the lists around, below is one of them
[IMG alt="JohnLocke"]http://localhost/data/avatars/s/0/2.jpg?1727588469[/IMG]

Thread 'List of valid and trustworthy Offshore Company Formation services.'​

Jun 25, 2019

Starting an offshore company can be an adventurous experience. Diving into a world that you do not know much about, you will obviously face a lot of challenges ”“ some sort of a quest. You are trying to do one thing, only to find out that there is something else you need to do first and so on.

Whether you are after reducing your taxes, diversifying your assets across a few countries, or simply gaining some privacy for your company, an offshore opportunity is never to be overlooked. But here comes the main challenge...

While fully legal, governments are trying to push...

• JohnLocke
• Replies: 21
• Forum: Mentor Group Gold Tips & Guides

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search the forum for trusted list of providers and you will find more up to date.