Income Tax Rates

UK tax rates are extortionate.

>pic related

Our current tax rates ludicrously and unjustly punish higher earners. If I plan on becoming my own boss and getting rich, are there any tips or advice any of you can offer? I’m a poorfag aspiring to become a richfag, however that’s not possible without an army of expensive lawyers. Moreover, my stance on tax is that it should be a 10% flat rate tax that applies to all earners, not this disproportionate shit we currently have.

>I WILL be taking advice from you faggots with a whole serving of salt

I’m weighing my options as to whether I should move to another country entirely, such as the British Virgin Island territories, because I’m assuming (haven’t checked) their tax rates are fairer.

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better than Australia. We're effectively taxed at 45% for anything over 100k pounds

the tax rate is only applied to over that threshold. if you make 200k per year you only get taxed on 45% of 50k. still rapey but not horrible.

Gotta pay for healthcare and welfare so All the assorted black and brown people we invited here are sufficiently taken care of and able to outbreed and demographically replace us in the next century. At least our grandchildren will get to live in a dystopian shithole, a despised minority in their own homeland.
Paying a quarter of everything you earn is a small price for such wonderful benefits.

Immigrants in the UK are better educated than locals. Kek.
Yo should be worried only about refugees, not >muh brown people

Having lived around brown people my entire life I can safely say you're full of shit.

Become a consultant working through a LTD.

I make about £120k a year an pay 20% tax.

>Become a consultant working through a LTD
Why, how does that help?

It could be worse...

Too long to explain, just google contracting LTD company.

>no dutch 52%
>not paying extortionate taxes on vehicle CO2 emissions
Come back when a mustang GT costs 127k in the UK.

Dude capital gains rates here are pretty good, all I care about desu

>literal theft
>the people are ok with this
europoors are some real cucks

Forgot: The socialist party unironically wants a 65% tax bracket for 150k+ yearly incomes. Not even physicans earn that much here but whatever

This is an outright theft. There is no argument against it. UK is socialist as fuck and britcucks love it. Mention the privatization of the NHS or cutting benefits and even the Daily Fail readers will attack you. The only reason they hate refugees is because they have to share the handouts from the government.

Sad thing is that seems that all we have here is a bunch of state loving nuts. Now the government wants to know what kind of porn you watch and will force porn sites to add identification.

If you're making over 150k a year then it's probably cheaper to set up an off shore bank account in a tax haven.

Tax havens are your friend

Use a LTD company duh

but is that legal?

Haha. Come up to Scotland where they tax you at 45% if you earn over 35,000 pounds. Planning to move out of here before it becomes a Socialist shithole .The SNP are already discussing the implementation of universal income.

Any ideas where i should move where the market is free, little government intervention and little taxes?

Of course.

Yes tax havens are legal.

>he thinks you pay income tax on crypto gains in the uk

Oh my sweet summer child.

Incorporate a company for a few hundred pounds. Loan all of your crypto to the company as a director loan. Leave the uk and give stewardship to lawyer on paper. Charge interest to the company on the directors loan. Withdraw the interest tax free via your lawyer to your new home in (insert comfy country)

You're welcome

have you actually done this?

Nice try hmrc.

Macedona, Qatar, Kuwait, Lesotho, Saudi Arabia, Namibia. Enjoy the low taxes and no goverment

I feel a directors loan is the quickest way to get audited by HMRC - especially if you loaning imaginary money to your company.

Those are all terrible places to live.

There are a lot of much better options in terms of quality of life, flexibility of finance regulation and quality of local women.

What a fucking noob.

You would pay 32.5% tax under s.455 Corporation Tax Act on the director's loans since the 2016 budget.

They can audit the company, there is nothing illegal about this in current tax legislation.

And like you say, it's just imaginary money. You can't tax imagination.

But if you're too much of a pussy just declare it as income up to the value you can offset with government income tax relief programs such as their small business investment funds and then put the rest down as capital gains which is taxed at a relatively low rate.

Do you know that the Gov is offering tax breaks on ISA with a 20k£ yearly allowance? Do you know that if you are self employed you can create a ltd company assign yourself a low salary and pay 20% on the dividends? Do you know that you have up to 11300£ capital gains tax allowance. It is a shame that school doesn't teach you anything useful about finance.

>make $1 million through crypto
>Setup offshore company (A) in Seychelles
>Setup offshore company (B) in the Netherlands
>Setup offshore bank account in the Cayman Islands on behalf of company (A)
>Create imaginary e-book through the company (A) and sell it to company (B) for $999,999.99
>Send the $999,999.99 from the e-book sale to the offshore bank account in the Cayman Islands

You wont find a low tax country that is not a shithole if it's not a very small tax heaven country like Monaco or Virgin Islands

If you lived in the uk and were charging interest on a non speculative asset loaned to the company, then yes you would pay that amount of tax.

However nothing I said implied any of the above.

Always wanted to move to Australia or New Zealand. Are these good options? I have a masters in degree in Mathematics and currently doing a masters in economics. I have got a good job in place with money and the thought that there are rumors the Scottish government are bringing in a 50 percent tax rate is terrifying to me.

It depends which type of tax you're trying to reduce your exposure to. There lots of small countries like you say, but depending on your reasons for choosing a country there are many European (non eu) and Asian countries that are viable options.

>if you lived in the UK

s.455 applies to non-resident participators, residency is not relevant.

>tell me info I easily could find out by googling

>I probably won’t listen or take the advice.

I actually been running a LTD for about 7 years now - will look into this thanks.

Current plan is to cash out the tax free capital gains allowance of £22k (£11k split between my wife and me) then after April take out another £22K. Do you know if you even have to declare these amounts on your tax return considering they tax free?

The rest I would prefer to be given to my company as I'm not interested in the personal tax implications.

jesus fuck you guys are cucked

Incorporate a business in Singapore if you want to work/live in Australia/nz. Setup another company in Australia/nz which is a franchise of the original company in Singapore. Work for the franchise in Australia/nz to get work visa and then max your tax free allowance in terms of benefits and wage through the Australian company. Anything over that you need to move to Singapore. You do this by charging the franchise a fee for operating under the brand of the Singaporean based company.

Get financial and legal advice before attempting anything like the above involving multiple countries and companies.

I don't think my employer will pay me in an offshore bank account and I'm paid net of tax anyway
>tfw almost reaching additional rate this year
not sure how to feel

As if I'll even make 11 quid off this ponzi let alone over 11.5k


I'm looking into contracting LTD company now.
So far it looks promising, but a 3 minute video isn't enough.

You and your wife also have a 1k savers allowance that you can use. Have a look on Google. You'll be able to find more info about their funds that let you offset income tax too, all legitimate and in fact encouraged by the gov to help the economy. The funds loan to small to medium sized UK businesses, decent returns too.


Thanks! Will do some research on it.

holy shit.

tax revolt now.

how to win the election
>hey you see that hard worker over there?
>I'll take most of his money and give it to you for not working only if you vote for me

I'll give you a quick rundown. All info comes from UK immigrants.
>UK is the best country for tax fraud
>pajeet restaurants / shops won't give you receipts because most transactions officially never happened
>hire illegal immigrants: you can pay them half of minimum wage and you don't have to pay tax for them
>sell drugs "UK police is useless"
britbongs don't know but immigrants constantly brag about how they were able to claim some benefits they shouldn't be getting. Immigrants have guns, machetes etc, don't pay income tax, council tax, car insurance, they very often steal from work. The list goes on and on.
I left this literal shithole, I'm so glad this is not my country.

get a good accountant.
don't pay more than £200/month for one. make sure they do your personal as well a company tax. get them to fuck about with payroll and vat man.
use an online accoutning package you can both login to.
dont umbrella.
push as much thru the company as possible, use all the taxbreaks u can (get creative).
rules on divvys have changed.
if ur smart ull save loads. dont bitch about paying 2k a year for accoutant

Thanks for the advice. Strongly considering this.

They not that expensive, I pay just over £100 a month for mine and they an excellent firm - been with them for 7years now.

that a good deal. they do all my invoices too tho in n out - can get busy.

Nothing groundbreaking here but I own a Ltd company in the UK, as a director it works out that I will pay less tax per year if most of my earnings are paid and declared as a dividend which is taxed at 7.5%.

I can still pay myself something like £800 per month tax free in addition to lower taxed dividends. I think it saves me about 12.5% a year and works out good for my company too as less PAYE is paid.

Labour 70's
Thatcher 80's

Oh and this, get a good accountant. I paid £1500-£2000 per year and hes worth every penny for the reduced stress and money saved.

So what was the point of setting up the business in the first place?

Isn't it meant to make you money?

I'm misunderstanding the question? My company does make me money, all I'm saying is that if I pay less tax it means I can take more home.

fuck off, shitskin

>implying acting as a shadow director works in 2018
>implying some NEET who tries to do this won't be charged with with fraudulent trading and disqualified from acting in any management or directorships for 3 years minimum
>implying non-residents don't pay income tax on income arising in the UK on loan relationship interest

This is such a convoluted pile of shit.

The easiest way for anyone to avoid tax on crypto cash outs is this:

(1) Transfer unrealised cryptos to your non-UK citizen spouse's non-UK resident family member (i.e. mother, father, siblings)

(2) Your spouse's family member transfers to fiat in their country - which either has no or very little capital gains tax

(3) They then gift this fiat to your non-UK citizen spouse - depending on their countries laws and allowances available, this should be tax free (i,.e. most Eastern European countries have tax free cash gifts between close family members) to a bank account in their name in their home country.

(4) Your spouse then transfers cash to their UK bank account

(5) They then gift this money to you - gifts between spouses are tax free.

Note: Requires being a non-virgin

Maybe if you didn't oppress blacks and hispanics now and in the past, you wouldn't have to pay for their misery.

>He thinks antecdotal evidence is relevant in any serious discussion

I generate my own invoices and just send them a copy to calculate profit/tax etc.

I'm normally years contracting with the same company so its only 1 invoice a month I need to generate.

>Transfer unrealised cryptos to your non-UK citizen spouse's non-UK resident family member

lmao good luck to your average lambo bizraeli trying to get that back from their mail order gook mother in law

>"i give daughter he give gift, me no give back"

the pound was worth a lot more in the 70s.

>implying 83% tax is ever justified
>implying 40% tax is ever justified
don't forget to add national insurance to that

>not only cashing out 11k per year to live off and keeping your finite resources in the market where the grubby jewish world order cant steal them

>live off 11k a year

I'd like to actually enjoy my life.

and council tax

go back to leftypol faggot