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In the UK at least, you can use umbrella trusts to legally dodge corporate tax as a small/medium business or self-employed if you're earning a decent amount.
by undefined0 11y ago
In the UK at least, you can use umbrella trusts to legally dodge corporate tax as a small/medium business or self-employed if you're earning a decent amount.
- mattmanser 11y agoThat's tax avoidance, HMRC will come knocking and you'll end up having to pay 5 years tax in one chunk. Oh, plus penalties for not declaring you were avoiding tax! Here is the HMRC specifically warning against this exact scheme and telling you they will tax all your money later and fine you: https://www.gov.uk/government/publications/spotlight-26-contractor-loan-schemes-too-good-to-be-true/spotlight-26-contractor-loan-schemes-too-good-to-be-true https://www.gov.uk/government/publications/spotlight-26-cont... So definitely not in the UK.