Archangel wrote: ↑Sun Apr 16, 2023 11:42 pm
Archery1969 wrote: ↑Sun Apr 16, 2023 10:44 pm
Archangel wrote: ↑Sun Apr 16, 2023 10:08 pm
How come?
Retiring next April overseas.
They have tax in other countries too
Unless you plan to take your fortune to a tax haven
I will be in Canada with property left to me by my Canadian uncle and income via private pension.
There are many legal tax loopholes. The pension will be paid in a certain way as not to raise red flags but perfectly legal.
In the UK I earn via a limited company but only paid £9,100 as not to break the employee/employer contribution allowance, the rest is paid via dividend at only 8.75% but there is another legal loophole there too.
On paper corporation tax doesn’t kick in so I earning well but instead of paying 29% in total am only paying a fraction.
It pays to have a partner who works for PWC.
The UK tax rules are rather pathetic with more holes than any in the G20, have been for the past 35 years.
Is it morally correct, no but is it all legal, yes.
