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Independent contractor in HK for a UK company - Help Needed

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  1. #11

    Join Date
    Nov 2019
    Posts
    2,161

    Have a look at these.

    https://www.gov.uk/tax-uk-income-liv...K%20as%20well.


    https://www.gov.uk/tax-foreign-incom...e%20tax%20year

    https://www.gov.uk/tax-return-uk#:~:...moved%20abroad


  2. #12

    Join Date
    Mar 2023
    Posts
    6

    I am registering myself as a sole proprietor and paying tax in HK. I have some expenses in UK so it works better to get paid into my UK account and make my own transfers. Will there be any legal conflicts?


  3. #13

    Join Date
    Mar 2023
    Posts
    6

    I'm registering myself as a sole proprietor and pay HK tax and being employed by a UK company. Can I get paid into my UK account and make my own transfers and declare tax in HK?


  4. #14

    Join Date
    Oct 2007
    Location
    Hong Kong
    Posts
    856
    Quote Originally Posted by Wai33:
    It is cheaper not to hv a Ltd company as auditing is about $6,000 per year.
    This is not a correct advise as there are some benefits that SME can benefit to offset audit fees. Also audit fees varies with what kind of CPA you get

  5. #15

    Join Date
    Nov 2019
    Posts
    2,161

    Speak to both U.K. & HK tax advisers.

    Have you informed HMRC that you’re moving abroad?

    https://www.gov.uk/tax-right-retire-abroad-return-to-uk

    Easier to manage paper trail and expenses for your Sole Proprietorship business in HK, if everything managed from a HK Bank Account.

    https://www.ird.gov.hk/eng/tax/bus_fsie.htm#a01


  6. #16

    Join Date
    Mar 2023
    Posts
    6

    Yes I will be informing HRMC, and I understand it will be simpler to get paid into an HK account. But if its not breaking any rules, it will really be easier for me to have income paid into my UK account, saving all the transferring fees for UK expenses...


  7. #17

    Join Date
    Nov 2019
    Posts
    2,161

    You have to conduct annual audits in HK, so best to check with your HK Accountant.