Ok so now CLint has dividend income from the BVI on which he
will pay tax in
the UK. At a rate likely to be much higher than 17.5%.
And maybe he
has some intercompany loans. And some extra tax returns to
fill out. And
presumably some filing requirements in the BVI. And more
accounting to do.
And he already paid $700 bucks for his company.It really doesnt sound that simple to me......
Oh good grief...
There are *no* reporting or filing obligations in the BVI.
Why would he need intercompany loans???
I gave the dividend income as an example. In fact, he would
only repatriate income in accordance with the needs of the
UK company. It would be a fee for services rendered. Such
income would be treated exactly the same as income from UK players.
The cost of administering a VAT return for a small company is out
of all proprtion to the amount raised by the Excise. Anything
that can eliminate that burden should be taken seriously.
I have run a BVI company since 1996 for a business that involves
the USA, France and Switzerland. From your statements, I infer
that you have not. Therefore, please do me the courtesy of
accepting that I know what is involved.
Clint: if you want any further information, please feel free
to contact me directly.
Gavin