Hi
I am looking for some advice as to how best to set up a business arrangement I am setting up. My Situation:
I am an australian resident, been in the UK for 3 years, currently 1 year into tier 1 visa. I am employed permanently and I do some consulting work part time through a limited company I have set up here in the uk.
I am moving back to Australia in January and taking a permanent job on salary. In addition I have also lined up some further consultancy work with an american company who have offices in the UK, which I will be doing from home part time in Australia.
What I want to know is what is the best way to organise these consulting payments so I am paying the least amount of tax. My clients are very flexible in how I am paid and in what currency.
I have a limited company set up here in the uk. I also have a limited company set up in Australia.
My permanent salary in Australia will be $110,000 AUD and I expect to make approximately £40,000 consulting
The way I see it my options for this consulting payments are:
- Paid as direct salary to me in AUD
- Paid as salary to my UK bank account in £
- Invoice through my limited company in the UK
- Invoice through my limited company in Australia and then
I realise I will have to account for all home office expense deductions etc. and this is not straightforward but I am after some adivce as the best option to minimise my tax payments.
I will be returning to the UK roughly 2 times a year however I will be premanenetly based in Australia and ultimately want all my money there. Any advice is much appreciated, even advice on how I can get some better advice. Thanks in advance
Cheers
J


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