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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4414
Experience:  FCCA FCMA CGMA ACIS
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I wish to know if I am a share holder in an offshore Limited

Customer Question

I wish to know if I am a share holder in an offshore Limited Company like Delaware, I only pay UK tax on what my personal income/receivables are and not on the profits of the Limited Company which may be retained for reinvestment.
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with yor question.

You are only taxed on your personal income and not the company's. The company is a separate legal entity from you and will, of course, be liable to federal and state taxation in the USA. What happens to the company has nothing to do with you UK tax wise.

I do hope that I have been able to set your mind at rest on this matter.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 year ago.
Hello Keith
Thanks for your answer. Was that a FREE trial?
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Can I change to a detailed answer for £41 a month, I think?
Expert:  bigduckontax replied 1 year ago.

Delighted to have been of assistance.

Thank you for your support.

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