full image - Repost: Earning money in the US as a Briton living abroad (from Reddit.com, Earning money in the US as a Briton living abroad)
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Confused, and every accountant is giving me different advice.I left for India around three years ago and haven't been resident in the UK since.Since coming to India, I have set up a business remotely in the USA in a partnership LLC with an American.Our business currently brings in profits of around ~$500,000 annually, which is split between us.The infrastructure is out in the USA and the workforce is contracted out in the Philippines - they remotely connect into US networks that we host in America for a variety of reasons.All of the income is made in crypto, on which we want to pay taxes so that we can invest.Although as a crypto business, we could quite easily Monero our funds out of existence, we don't want to.To add further confusion, because I am not American - the LLC does not have a tax wrapper around it, such as S-Corp status.I'm now incredibly confused about what to do.I want to leave India, but not go to the US.I Ideally want to come back to Britain, but have been getting mixed reviews on what sort of taxes I'll be paying on this income - with a few accountants telling me that any 'distributions' from the LLC will be taxable in both the US and the UK, bringing my effective tax to around 62% - this without the additional complexity of dealing in crypto, which I've been advised will require specialist accountants to pass AML checks.Cashing out in the LLC and drawing dividends is not a solution due to double taxation - where any taxes I pay on dividends, or 'distributions' in the US will not be eligible for credits in the UK: https://ift.tt/X1Qu70P considering Dubai, Ireland and Barbados to draw income now - I've been told that changing residency officially, which I still haven't done, should be fairly easy due to having less than 180 days in the UK over the last three years combined.If I do go to the US, I'm looking at paying around 36% - I'd go on an E2 visa which I'm eligible for.Alternatively I've been advised that I could go to the Philippines, manage infrastructure there for our business and take advantage of territorial taxes at zero percent as income is being drawn from the US, rather than being earnt in the Philippines.Any help? Coming back to Britain is my first choice, but a 60%+ tax rate isn't something I'd be up for... at all.
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