I’m a solo software developer and also do consultanting, a bit of e-commerce, and am a nomad. And I’m not a resident of UK, US, EU, AU…
I want to open a UK Ltd, but because of the high taxes - 19%-23% - I hesitate. Therefore, what if I do this, in order to legally reduce taxes:
- open a UK Ltd and make it dormant; could be right away or after a little while
- open a UK Llp, with one member being me, and the other one being my dormant Ltd
- go to some country with low, lower or 0% income or corporate tax and stay there; preferably a country with territorial-based taxation
- use my UK Llp to do business, while keeping the Ltd dormant
- my Llp will be subject to the tax in a country I’m staying at, or have a residency at and which will be a low tax or zero
Will this work as I anticipate? Are there any downsides and nuances?
P.S.
Where my clients are? All over the place; some may or may not be in UK