Hi there,
Very specific question to which I haven't been able to find an answer.
I'm a UK resident with a US green card and sole proprietor of an S-Corp (Delaware).
The US taxes are straightforward, the salary comes as a W-2, the K-1 (profits) are taxed separately.
The UK taxes are more complicated. It is considered as Opaque by HMRC which means there is no tax relief for the taxes paid on the profit part of the business.
As such, would I be better off paying everything out as a salary, which even though it increases my US tax burden, it avoids double taxation and the combined tax burden would be lower?
Haven't found an answer and assuming I'm not the only one in this situation!
FG
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