Intellectual Property -Tax Avoidance (need advice)

Mercadier

I have a problem. I'm about to release an intellectual property onto the market but I do not want to be subjected the UK higher rate tax if my product is successful. My question is, How do I avoid it?
I'm considering emigrating to Hong Kong to take advantage of their tax rates but to what lengths would I have to go to avoid being subject to the British govt? Would I need citizenship in another country? Would I have to register a company in another country? Would I need a bank account in another country?
I'am really clueless about this issue, I don't pretend to be savvy, that's why I need advice.

gadgetmind

You need to cease to have UK domicile - lots of guidance on the web regards this, but it's a very complex area.

Less drastically, you could place the IP into a limited company to make use of lower tax rates for dividends.

My wife doesn't work, so I have gifted all my royalty-generating IP to her, but this only works because our stuff dates back to the mid-80s and we're now in the "long tail" of income generation.

hermante

Mercadier wrote: »

to what lengths would I have to go to avoid being subject to the British govt? Would I need citizenship in another country? Would I have to register a company in another country? Would I need a bank account in another country?

Do not stay in the UK for more than 91 days per tax year ever again. Yes you will need an account in another country, how else are you going to get your money if you don't live in the UK?

Mercadier

Awesome guys! Thanks for the help:j