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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I am a UK citizen. I am the sole Director of a UK Registered

Resolved Question:

I am a UK citizen. I am the sole Director of a UK Registered Company called UK Ltd.(not real). I am the sole Director of a Company registered in the Seychelles called Sey Ltd.(not real) UK Ltd is the sole shareholderr of Sey Ltd. As Director of Sey Ltd I shall receive no
income from Sey Ltd. Dividends from Sey Ltd will be paid to UK Ltd. Any such dividends will be declared by UK Ltd for UK taxation in it's yearly accounts. Sey Ltd does not exist to avoid UK taxation.
Am I doing anything wrong? Am I required to disclose this arrangement to HMRC as a Tax Avoidence scheme, even though no Tax will be avoided?
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

No, you are not doing anything wrong and no disclosure is required as it is not a tax avoidance scheme.

Hope this clarifies.
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