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> I'm considering setting up as an Estonian e-resident soon though (https://e-estonia.com/solutions/e-identity/e-residency/ https://e-estonia.com/solutions/e-id
by objclxt 9y ago
> I'm considering setting up as an Estonian e-resident soon though (https://e-estonia.com/solutions/e-identity/e-residency/ https://e-estonia.com/solutions/e-identity/e-residency/) to change where I pay my taxes.
Talk to a solicitor before you do this unless you want HMRC to come a knocking. Estonian eResidency is not actual residency, and it won't change the country you're resident in for personal tax purposes. You could set up a company in Estonia, but if you're an independent contractor and all the profits from that company flow directly back to you HMRC may again have questions (and you'll still have to pay taxes on the dividends you receive at the UK rates).
- TomMarius 9y agoThe way its done here in Europe (don't know about USA) is to have most of your spending billed to the company as an expense. You take very little to no money out of the company.
- deleted 9y ago[deleted]
- blakenomad 9y agoYep I understand that. The idea with e-residency is you cover your business expenses pretty much exclusively the company card you acquire when you establish your company in Estonia. This covers travel and accommodation primarily. Everything else I must pay tax on as usual though HMRC. Any cash I want in my UK bank account for example is tax-deductable.