First time poster seeking advice and an accountant for future tax planning.
Here is my situation:
- I am a UK citizen with UK NI number. However I was born in Luxembourg, mother lives in France and father was American. I went to boarding school in the UK from age 13-18 then left then returned and went to university. lived in UK for the last 5 years but with no 'fixed' address for the last 3 (2 previous were at univesity) and I am hardly in the UK due to my job and lifestyle (<91 days a year)
- I have a bank account and car registered in the UK and use a friends address with no tenancy agreement.. i do not pay them rent its just a place to have my bank statement sent (It is not a place i can stay at my own will). I also do not have any of my own property or have other ties to the UK from what i can make out from the not so user friendly worded documents i have found from HMRC.
- i am part owner with my sister on a property which we inherited from my father. it is located in Portugal.
-I can say I live at my mothers in France if necessary as she has said i can stay there whenever I want.
- I am a freelance offshore hydrographic surveyor working in the Oil and Gas industry mainly through UK based agencies.
- I normally spend more then 183 days a year working outside the UK which is carried out on-board vessels not attached to the seabed. IE I qualify as a mariner.
- The work is generally carried out in international waters but i do
also end up working in the UK from time to time when we goto port or
when working within the 12nm limit. . it all becomes quite complicated!
- The agencies I work for pay me via pay me in GBP.
- The agencies i work for will pay my own LTD company or pay me via
an umbrella company. Most are happy to pay me to a LTD company which has not been incorporated in the UK.
A few questions:
1. So where is my domicile and how does this effect my tax obligations?
2. On the 183 day rule and <90 day rule in the UK and having no additional ties means I am non resident for tax purposes... Right? Well i know this subject is very complex.
3. If this is the case where is my residency or given the choice/option where would be best to make myself resident for tax purposes?
4. Could I essentially incorporate a ltd company and bank account in a low tax or zero tax jurisdiction and legally not have to pay tax? If i have understood correctly even if I was resident in the UK which I presume I am not then this would still be legal providing the income does not reach UK territory?
5. is it possible for my company to trade stocks/shares with no tax obligations? if so how is this done?
6. If later on in life i want to register myself in an EU state could i find myself liable for tax from previous tax avoidance and if so how to not end up in this situation?
I know the main answer to these questions is to 'seek some professional advice and tax planning' The problem is i have found that well informed accountants/ tax consultants that are knowledgeable about offshore jurisdictions, UK tax laws, domicile and mariner laws hard to come by and my situation is rather complex so i will appreciate any advice on here or reference to someone who can help in my situation.
Thanks for any responses!!
Here is my situation:
- I am a UK citizen with UK NI number. However I was born in Luxembourg, mother lives in France and father was American. I went to boarding school in the UK from age 13-18 then left then returned and went to university. lived in UK for the last 5 years but with no 'fixed' address for the last 3 (2 previous were at univesity) and I am hardly in the UK due to my job and lifestyle (<91 days a year)
- I have a bank account and car registered in the UK and use a friends address with no tenancy agreement.. i do not pay them rent its just a place to have my bank statement sent (It is not a place i can stay at my own will). I also do not have any of my own property or have other ties to the UK from what i can make out from the not so user friendly worded documents i have found from HMRC.
- i am part owner with my sister on a property which we inherited from my father. it is located in Portugal.
-I can say I live at my mothers in France if necessary as she has said i can stay there whenever I want.
- I am a freelance offshore hydrographic surveyor working in the Oil and Gas industry mainly through UK based agencies.
- I normally spend more then 183 days a year working outside the UK which is carried out on-board vessels not attached to the seabed. IE I qualify as a mariner.
- The work is generally carried out in international waters but i do
also end up working in the UK from time to time when we goto port or
when working within the 12nm limit. . it all becomes quite complicated!
- The agencies I work for pay me via pay me in GBP.
- The agencies i work for will pay my own LTD company or pay me via
an umbrella company. Most are happy to pay me to a LTD company which has not been incorporated in the UK.
A few questions:
1. So where is my domicile and how does this effect my tax obligations?
2. On the 183 day rule and <90 day rule in the UK and having no additional ties means I am non resident for tax purposes... Right? Well i know this subject is very complex.
3. If this is the case where is my residency or given the choice/option where would be best to make myself resident for tax purposes?
4. Could I essentially incorporate a ltd company and bank account in a low tax or zero tax jurisdiction and legally not have to pay tax? If i have understood correctly even if I was resident in the UK which I presume I am not then this would still be legal providing the income does not reach UK territory?
5. is it possible for my company to trade stocks/shares with no tax obligations? if so how is this done?
6. If later on in life i want to register myself in an EU state could i find myself liable for tax from previous tax avoidance and if so how to not end up in this situation?
I know the main answer to these questions is to 'seek some professional advice and tax planning' The problem is i have found that well informed accountants/ tax consultants that are knowledgeable about offshore jurisdictions, UK tax laws, domicile and mariner laws hard to come by and my situation is rather complex so i will appreciate any advice on here or reference to someone who can help in my situation.
Thanks for any responses!!
