Comments on: Life, Software and Taxes, Part 2 – Belize http://www.agilemicroisv.com/2007/12/life-software-1/ Small fish. Big pond. Tue, 07 Sep 2010 01:12:51 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Tim Haughton http://www.agilemicroisv.com/2007/12/life-software-1/comment-page-1/#comment-109 Tim Haughton Sat, 29 Dec 2007 14:19:36 +0000 http://www.agilemicroisv.com/2007/12/life-software-1.html #comment-109 <p>@Anon - I hear ya. I'm inclined to agree with the vast majority of what you've said. One of the hats you've got to wear in this game is that of tax mitigator, so I think it was an interesting exercise. Unfortunately, after looking into it, there doesn't seem to be any way of repatriating the funds without breaking the law, I will blog the results of this soon.</p> @Anon – I hear ya. I’m inclined to agree with the vast majority of
what you’ve said. One of the hats you’ve got to wear in this game is
that of tax mitigator, so I think it was an interesting exercise.
Unfortunately, after looking into it, there doesn’t seem to be any way
of repatriating the funds without breaking the law, I will blog the
results of this soon.

]]> By: I'd like to be anonymous http://www.agilemicroisv.com/2007/12/life-software-1/comment-page-1/#comment-108 I'd like to be anonymous Thu, 27 Dec 2007 03:08:33 +0000 http://www.agilemicroisv.com/2007/12/life-software-1.html #comment-108 <p>Speaking as the founder/owner of a small software company with global reach (we're based in the UK with a US company to run our operations there, and customers all around the world) my conclusions thus far is you can either spend your time messing around in tax evasion and corporate structure, or you can build the business.</p> <p>Not that I'm saying figuring out how to save tax is a bad thing (that's what you have an accountant for!) but the fact is if you're any good at what you do (and I am sure you are) then any time you have is better spent on your business - not on messing in high finance. </p> <p>Sure, you'll pay more tax, but you'll make more money in total. </p> <p>Ultimately the high finance game is one populated by people who do this for a living, and you (and I) are just amatuers. </p> <p>We have a UK company because that's where we live, and we're reasonably tax efficient. We have a US company because that's where half our employees and customers are, and keeping the money in the US and paying a license fee back to the UK is much more efficient Vs the costs of moving money back and forth across the Atlantic (although Afex helps a lot). </p> <p>Get with a good accountant, there's more than enough opportunity to make good use of the tax allowances available for UK companies. If you're making over £100k a year, you might want to look at getting more creative but at that point there will be people more than willing to help you and you'll have the income to make it worthwhile.</p> <p>Fact is, if you're the principal in a business your time is better spent growing the business, not worrying about perhipheral stuff. </p> <p>Hope that's helpful. </p> Speaking as the founder/owner of a small software company with
global reach (we’re based in the UK with a US company to run our
operations there, and customers all around the world) my conclusions
thus far is you can either spend your time messing around in tax
evasion and corporate structure, or you can build the business.

Not that I’m saying figuring out how to save tax is a bad thing
(that’s what you have an accountant for!) but the fact is if you’re any
good at what you do (and I am sure you are) then any time you have is
better spent on your business – not on messing in high finance.

Sure, you’ll pay more tax, but you’ll make more money in total.

Ultimately the high finance game is one populated by people who do this for a living, and you (and I) are just amatuers.

We have a UK company because that’s where we live, and we’re
reasonably tax efficient. We have a US company because that’s where
half our employees and customers are, and keeping the money in the US
and paying a license fee back to the UK is much more efficient Vs the
costs of moving money back and forth across the Atlantic (although Afex
helps a lot).

Get with a good accountant, there’s more than enough opportunity to
make good use of the tax allowances available for UK companies. If
you’re making over £100k a year, you might want to look at getting more
creative but at that point there will be people more than willing to
help you and you’ll have the income to make it worthwhile.

Fact is, if you’re the principal in a business your time is better
spent growing the business, not worrying about perhipheral stuff.

Hope that’s helpful.

]]> By: Andy Brice http://www.agilemicroisv.com/2007/12/life-software-1/comment-page-1/#comment-107 Andy Brice Wed, 12 Dec 2007 01:38:08 +0000 http://www.agilemicroisv.com/2007/12/life-software-1.html #comment-107 <p>Are there any hollowed out volcanoes in Belize I can buy with my offshore loot?</p> Are there any hollowed out volcanoes in Belize I can buy with my offshore loot?

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