I am the director of an small agency in the UK. The company has no PAYE employees (other than myself), but uses contractors in the UK and around the world.
Can anyone give me any hints as to the best way to deal with my finances? Before I go to an accountant I want to do as much groundwork as possible and try and get a better understanding of the way things
work.
These are the questions that I have...
1. Has anyone experience of running a UK company from Australia and/or in tandem with running an Australian company doing the same business in Australia?
2. I am anticipating receiving income from dividends from the UK company – I assume that tax will have been paid in England - how is this taxation treated in Australia?
3. What to do about salary that would have been paid PAYE in the UK?
4. I also have a personal pension that is paid into by my company? Is there anything I should think about in connection with this?
Any other hints, tips and guidelines would be appreciated.
My understanding is that you would have to tell tax man uk & oz.
You have to return to the UK within the tax year for I think 3mths...out of 12.
I agree it is a mindfield...
Suggest you call tax office they were helpful when I called them with similar questions
Perhaps contact someone such as Alan Collett. You have serious issues with respect to permanent establishment in Australia. This is where the company becomes Australian tax resident and is drawn into the Australian tax net as well.
