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by spoonie 3678 days ago
The grandparent was making an analogy, but...

Use a "non-dom"! BVI or Jersey/Gibraltar/Mann, etc.

My understanding is that it's similar to money left outside of the US: with a UK non-domicile you can defer paying taxes on the cash as long as you leave it outside of the UK.

The catch is, of course, you have to be able to show the money was earned outside of the UK as well (e.g. investing -- see David Cameron's father and the Panama Papers). On that other hand if you open a regular pension investment account in the UK you can defer up to 100% of your annual income tax anyway, without having to jump through hoops or be really rich.[0]

0 - https://www.gov.uk/tax-on-your-private-pension/pension-tax-r...

1 comments

The number of non doms in the uk is trivial so thats a very bad anology and you do have to pay a chunky levvy in lieu of tax.