Can you pay less tax by setting up a offshore limited company for share trading?

[Deleted User]

I was wondering if this is possible if anyone has done it. At the moment when I take profits from one trade and put it into another trade I have to pay CGT.

If I could trade over here but offshore this would prove an exponential benefit to myself, not having to pay tax on dividends or CGT my business could grow a lot faster.

Any ideas?

RayWolfe

Yant1 wrote: »

If I could trade over here but offshore this would prove an exponential benefit to myself, not having to pay tax on dividends or CGT my business could grow a lot faster.

Yea, my income could also grow exponentially if I didn't have to pay tax on it.
But then again, I do rather like the services I get from paying tax.

Jonbvn

Yant1,

I believe your question is rhetorical. Nevertheless, I will try and answer.

Basically, if you are a resident for tax purposes, then you a liable for CGT. However, there are usually ways of avoiding some liabilities, if you are clever. Being offshore, when you are a tax resident is meaningless. Given the sums involved you must engage an accountant and/or an IFA.