This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Moving to Sark - Personal Tax

Barney2201
Posts:1
Joined:Thu Sep 23, 2021 4:14 pm
Moving to Sark - Personal Tax

Postby Barney2201 » Thu Sep 23, 2021 4:26 pm

Can anyone point me in the right direction (fully appreciate I need professional advice).

We currently live in Guernsey (been here 2.5 years), we have now decided to move to the tiny island of Sark....

Sark is pretty unique in that is has no personal tax.

Currently we have a UK business, nothing massive circa £1.5 million turnover with 30% net.

Rather than taking profit via minimum PAYE and rest dividend (as per most UK company directors), could we pay ourselves a high salary and bonus as we are not UK tax resident and not incur any UK tax on the salaries or bonus (as we have been away over 2 years I believe there would be no NI to pay).

If anyone is a specialist in international tax planning please get in touch.

Return to “Income Tax”