UK Resident with company in Swizterland. How are we taxed?

[Fazoule]

Been reading several info about this but couldn't fully understand the tax implication for a‌ UK resident being majority shareholder in a Swiss S.A.

Let's say I'm a mobile app‍ dev (Freelancer) and my only revenue is Google Adsense (ads revenue, paid monthly by Google⁠ Corp) and let's say I'm a UK resident non-dom.
To take take advantage of Swiss⁤ S.A where shareholders are not publicly disclosed, If I hire a Swiss fiduciary to become⁣ the local Director of the company and me being the one and only shareholder.

How will I be taxed in the UK ? Will I only be taxed if I⁢ get dividends ? Or will I personally be taxed (UK Personal Income Tax) on every︀ profit of the Swiss Company (under CFC rules) ?

I have read the CFC rules︁ and the more I read them the more I'm getting confused. Since the Swiss company︂ will already be taxed (~16%) does having a Swiss Company even considered a CFC ?︃
Or does just by the fact that the Company has a local director will not︄ make it a CFC?

Tried contacted several UK accountants about this but couldn't find one︅ that was able to answer it.

 

[robbie777]

The answer to your question is simple.. for me it is complicated as the company‌ I will set up is in the Caribbean. For you it is just a self‍ assessment to fill out. A swiss company is an opaque entity. You pay income and⁠ national insurance tax from the profits. It is reported in the self assessment after. There⁤ is a double tax treaty so you don't have to pay corporation tax twice.

Unless your swiss company is a subsidiary to a UK company that is ... if you⁣ have a parent UK company to it, you would have to file CT600, CT600J and⁢ CT600B.

On my question I just posted a link to an accountant.. it needs approval︀ from moderator on the forum. They are helping me.

 

[CaptK]

The company will be taxed in Switzerland so no corp tax due to DTA.
It's for you to decide the make up of your income dividends and salary on your‌ self assessment.