Hi all,
I'm planning to set up a UK LLP with two partners, one individual and one corporate (both from the EU). Since taxation-wise an LLP is considered a transparent entity, both LLP partners would be considered tax exempt so long as a) they remain non-resident & b) the source of income is not in the UK.
What I'm trying to figure out however is - if my brokerage account (say IBKR, or IG) is legaly based in the UK, and I am earning an income from trading both UK and US instruments, does this count as being UK sourced?
I'm planning to set up a UK LLP with two partners, one individual and one corporate (both from the EU). Since taxation-wise an LLP is considered a transparent entity, both LLP partners would be considered tax exempt so long as a) they remain non-resident & b) the source of income is not in the UK.
What I'm trying to figure out however is - if my brokerage account (say IBKR, or IG) is legaly based in the UK, and I am earning an income from trading both UK and US instruments, does this count as being UK sourced?