Taxation question

[Sir T Fireball]

Any accountants in the house? This might be a simple one for anyone with such a background and would save me having to wait until tomorrow before talking with my own grey-suited calculator operator :D

I have been asked to do some consultancy work (self-employed) in London for a company based offshore (Jersey). Would such income be subject to UK taxation; income tax etc...?

If yes, any loopholes worth considering? The wife doesn't work, she just plays with Kitchen stuff all day :P

[Tony]

Hi

Things might have changed, but i always had to pay English TAX while i was working away in Europe, when i was Self Employed. But i was sub contracting off an English Firm, i dont know the rules for the Channel Islands though, as they are a TAX haven for the rich Brit's.

Tony

[-pops-]

I worked for a French company for twenty years - some of that time in France. I was subject to the UK tax system because my main residence remained in the UK.

[Sir T Fireball]

Thanks for the replies. I'll let you know what Mr Grey says tomorrow :)

[r4may]

You will probably have to pay UK tax if you are paid in the Uk or when you bring the money into the UK, but you should be able to use you wife's tax allowance to reduce this if you get her to contribute some work, to the project, and pay her for it.

Watch out for the NI contributions though if you pay her to much.

Edited spelling

[Tankus]

Not 100 % on this , but in order to qualify for oversea's non tax earnings, you have to show (prove ) that you have not spent more than 90 days in 1 whole financial year in this country in gainfull employment ......

The old ..."Im working aboard" excuse might work for 'er indoors , but the taxman is going to want months ....

[Sir T Fireball]

You will probably have to pay UK tax if you are paid in the Uk or when you bring the money into the UK, but you should be able to use you wife's tax allowance to reduce this if you get her to contribute some work, to the project, and pay her for it.

Watch out for the NI contributions though if you pay her to much.

Edited spelling

Pay the wife :o

There's a novel idea that'll never catch on :lol:

Seems it is a matter of trust between me and the tax man :rolleyes: the offshore company pay me by chq and they do not answer to UK tax laws. It's up to me to declare the income B)