As the titles states, Im looking to set up a company in the UK. The company will earn an income from property trading.
Before I call my accountant, is anyone in a similar situation, whereby they live in HK, but have additional income being generated in the UK?
I have a 'regular' job here in HK and the UK business will be a Venture and any profits will stay in the UK. Im PR in HK, but am a UK resident.
What will my tax exposure be? Any impact on my regular job income in HK?
thanks
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Why set up a company?
It is just extra expense, and administration
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HK company is far better and VAT is reclaimable. As all income appears to be UK related, there is no impact on HK tax.
Further benefit could arise with a Hong Kong based pension owning the HK company; both UK estate planning and potential capital gain deferral is possible.
Weir & Associates
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Email : WeirLaw@WeirandAssociates.com
www.WeirandAssociates.com
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Thanks Weir & Assoc'.
To clarify, the UK company trades in UK property only. As HK and the UK have the Joint Taxation Agreement, I did not know if any of the income the Company would earn in the UK (of which I am a director, but would not take any income from) could increase my exposure here in HK.
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