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UK residency without living in the UK?


grubas  12 | 1382  
8 Nov 2010 /  #1
Can anybody tell me is it possible to become an UK resident without actually having to live there (I would live in PL so Poles haters don't bother).I am asking because I trade stocks some times and I like UK CGT allowance which is 10.100 pounds and there is many ways to raise it.I have to say I hate to pay any taxes but since I have to pay some it would be much better for me to live in Poland but pay taxes in the the UK.Also can I register company in UK and pay their ZUS or whatever but operate in Poland?
guesswho  4 | 1272  
8 Nov 2010 /  #2
I see, you're ready to leave the US, right?
OP grubas  12 | 1382  
8 Nov 2010 /  #3
Yea I wish I could live in both Poland and US at the same time but I can't.I know I will miss it though.
convex  20 | 3928  
8 Nov 2010 /  #4
You can live in Poland and operate a company anywhere. Why not trade under say, a company in the Isle of Man, and live in Poland? No CGT on the Isle... Switzerland is also a good idea if you're a resident, I'm not :( .
OP grubas  12 | 1382  
8 Nov 2010 /  #5
Why not trade under say, a company in the Isle of Man, and live in Poland

As I remember they want more money than I can come up with.

Switzerland is also a good idea if you're a resident, I'm not

Neither am I.I am ok with paying some CGT but not freaking 19% no matter what,no allowances,only 50% of pravious year losses.Besides I would feel really bad suplaying Polish gov with at least 9k PLN since I have better idea how to use it than Polish crooks do.
convex  20 | 3928  
8 Nov 2010 /  #6
As I remember they want more money than I can come up with.

It's not too bad, a couple of grand gets you a company ready to go with a bank account.
Harry  
8 Nov 2010 /  #7
I am asking because I trade stocks some times and I like UK CGT allowance which is 10.100 pounds

You will need to be domiciled in the UK to get that allowance.

I am ok with paying some CGT but not freaking 19% no matter what,no allowances,

Set yourself up as a one person company and you pay 19% on your net personal income and can deduct loads of things (even a percentage of your electricity bill!).
delphiandomine  86 | 17823  
8 Nov 2010 /  #8
You will need to be domiciled in the UK to get that allowance.

And more to the point - Poland knows fine well about people trying such a stunt, and they've been slamming them with huge ZUS and tax bills. I have a friend in the tax office who told me that very often, they're tipped off by jealous neighbours - and that if the person isn't forthcoming with informationa bout their income, then they just hit them with a tax bill "based on the judgement of the inspector".
aphrodisiac  11 | 2427  
8 Nov 2010 /  #9
then they just hit them with a tax bill "based on the judgement of the inspector".

is that legal?

Anyways, Poles pay too much taxes.

Grubas, you don't ask such questions on the internet.
Varsovian  91 | 634  
8 Nov 2010 /  #10
The Polish tax office sends you a tax bill first, then you pay it, then you can appeal.

I have a tax specialist friend (Polish tax lawyer) who tells me hair-raising stories
Wroclaw Boy  
8 Nov 2010 /  #11
ahh the old jealous neighbor syndrome, heard that one before.
delphiandomine  86 | 17823  
8 Nov 2010 /  #12
is that legal?

Sure, it's quite common where someone refuses to disclose what they've been doing - it's one way to force them into admitting what they've actually been doing.

Anyways, Poles pay too much taxes.

It's not that bad really, when you take into account all the deductions that can be made.

Certain professions can attract a 9.5% tax rate - which is very good!
aphrodisiac  11 | 2427  
8 Nov 2010 /  #13
Certain professions can attract a 9.5% tax rate - which is very good!

which ones are those.At the moment I am in the 19 % bracket.
delphiandomine  86 | 17823  
8 Nov 2010 /  #14
It's the "umowa o dzielo" contract - the legality of using it for ongoing employment is of very dubious legality, but as it stands, they aren't doing anything about it. You'll find a lot of teachers in Poland are employed under this - technically, they are "creating" works - and they have costs of 50% - meaning an effective tax rate of 9.5%.

No ZUS, of course.

It's a great option if you just want to earn a lot of money quickly and you do something that involves some sort of "creativity".
Harry  
8 Nov 2010 /  #15
It's the "umowa o dzielo" contract - the legality of using it for ongoing employment is of very dubious legality, but as it stands, they aren't doing anything about it. You'll find a lot of teachers in Poland are employed under this - technically, they are "creating" works - and they have costs of 50% - meaning an effective tax rate of 9.5%.

No it isn't. It's the "umowa o dzielo autorski". The "umowa o dzielo" has costs of 10%. And both are taxed at the gross rate of 20%, creating effective rates of 18% and 10%. Using the autorski is not recommended as you have to demonstrate that the transferred copyright has been used.

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