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UK income?
Nearly in Cayman

Posted on: 18/08/2010
Posted at: 14:02:02
My wife has been offered a job in the Cayman Islands for 2 years - we'll both be moving there in September. I will be her dependent. We are letting our UK house and will return to the UK rarely (if at all). I expect to satisfy HMRC that we are both non-resident. I've handed my notice in with my employer as an IT worker - and my employment will cease before I move, however they have asked me to do some consultancy work from the Caymans. (I will physically reside in the caymans throughout). What is the best way to set this up - tax wise? I've considered UK Company, LLP and/or cayman company... UK is best for setup costs - but I think a decisive break with the UK is best? Am I right in thinking that a cayman company - which offers services to UK organisations - would be liable for UK tax on UK earnings? Considering I'll be non-resident - what tax would I pay on this if me and my wife were setup as an LLP? (Would an LLP be any use at all??).
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Anonymous

Posted on: 18/08/2010
Posted at: 21:16:58
I would set up a Nevis company or LLC, after a talk with your tax or accountant, for your income.
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Anonymous

Posted on: 20/08/2010
Posted at: 12:08:54
Set up a cayman LLC - Contact Appleby Global in Cayman re: LLC's & Residency - Residency issues are being revised - Living in Cayman is decent, by Caribbean standards - Camana bay/Dart Realty is about to open a residnetial section - nothing like it in the Caribbean, gorgeous development - hope this helps
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Anonymous

Posted on: 02/09/2010
Posted at: 14:53:37
I would be tempted to open a company in an offshore jurisdiction ( from a UK point of view) that way if /when you come back t the UK you can still use it for consultancy work and just remit living expenses to the UK - allows you the flexiablity to move anywhere in the world and keep the one company going. Andre.nell@askcs.co.uk might be able to help cheers
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