The richest one per cent.

[roosterboost 10]

With respect Cyclone, it's anything but, where foreign income/investments/tax liabilities/double-taxation agreements/etc. are concerned. See here for the ultra-simplified version.

 

It is pretty clear that we are dealing with a fool who gives advice out of ignorance backed up by his internet searches. The only bigger fool would be the fool that listens and uses such advice.

[Berberis 10]

No, a business starter takes more risks. At the end of the day, the business could flop leaving them in a mess of debt.

 

However, a Tesco shelf stacker also stands to lose their house, car and other assets if they lose their job......which many of them have.

 

If you try and start your own business without knowing the full risks, you're bound to fail. Starting a business and seeking full time, secure, permanent work are approached differently.

 

That was my point. Cyclone was over simplifying the analogy. A shelf stacker inherently has less risk than a business starter, so saying that as both a business owner such as Bill Gates is comparable to a shelf stacker at Tesco's because they both work hard is wrong.

 

I would go as far as to say a business starter works harder than a shelf stacker. A person starting a business has more work, more stress and on average will work more hours than a manual, un-skilled worker.

[Cyclone 10]

It is pretty clear that we are dealing with a fool who gives advice out of ignorance backed up by his internet searches. The only bigger fool would be the fool that listens and uses such advice.

 

I wasn't giving any advice, I was telling you that you were wrong. You still are.

[roosterboost 10]

I wasn't giving any advice, I was telling you that you were wrong. You still are.

 

That's the difference between your imagined internet gleened knowlrdge and my financial advisors actual knowledge. It is called understanding. :hihi:

[puisseguin 10]

The statement from HMRC is not quite so categorical: "You may need to pay UK Income Tax on your foreign income". Not "You may need to pay UK Income Tax on your foreign income".

 

And I suspect the reason for this phrasing is precisely because there's nothing so easy about it, and that, in relevant circumstances, a UK taxpayer may indeed not be liable in the UK for any tax on foreign revenues.

 

 

Rather than look at HMRC website for tax liabilities it is perhaps best to look at tax planning. Any half decent tax advisor/financial advisor will show the ways where the tax isn't required in the first place. It is called tax planning and solves the problem before a problem exists. It is also 100% legitimate.