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

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?

Comments

  • RayWolfe
    RayWolfe Posts: 3,045 Forumite
    1,000 Posts Combo Breaker
    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
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    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.
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
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