Non Uk Resident acquiring porperties to let

[aidand]

Hi

I am an Irish citizen currently working in the Usa and I intend to buy property in the UK to let.

I was intending on starting a limited company for this purpose and I would be interested in finding out which was the best way to go about this for taxation purposes. Would I be better setting up an offshore company or a company in Ireland or a company un the UK? Or would I just be better investing as an individual?

Any advice would be most welcome

Kind regards

Aidan

[Taxbar]

Dear Aidan,

It all depends on where you are going to live and what sort of income you have.

Using an Offshore Company will avoid UK inheritance, capital gains and income tax, but it will cost to run such a Company.

You will if you are a US Green Card holder not avoid any US tax as you will be taxed on worldwide income and gains as long as you hold the card.

An Irish Company will give you potential Irish tax laibility at 25% on the Company and more if you take money out by way of dividends.

If you can afford the cost and the property is valuable enough an Offshore Company would be best.

If you would like more assistance I will be happy to help.

Daniel Feingold
Strategic Tax Planning
International & UK Tax Consultants
Tel : 0161 720 7244
E-mail: sedrate@easynet.co.uk