Job Recruitment Website - Immigration policy - What documents do you need to invest in immigrating to the UK? What is the tax on British immigrants?
What documents do you need to invest in immigrating to the UK? What is the tax on British immigrants?
British immigration tax companies include entities (limited or unlimited) registered according to the Company Law and other laws and regulations, as well as non-corporate organizations approved by the Ministry of Commerce, except unit trust companies and partnerships. The share of partnership members in the partnership profits shall also be paid as a part of the total taxable profits in the corresponding accounting period.
Resident company: refers to the company that controls the management center in the UK. The location of the board of directors is the basic criterion for determining the residence. No matter where the company is registered or where its actual activities are, the domicile in Britain is a resident company. Resident companies should collect income tax all over the world. Non-resident companies: non-resident companies (including foreign companies). The source income tax of non-resident companies only in Britain should usually be determined by referring to the double taxation agreement between the two parties.
The taxable income range of corporate tax is similar to the six categories of taxable income of personal income tax. The calculation method of taxable income is to add the total taxable profit of the company in each accounting period (including the current income calculated according to different categories) to the capital gains, and deduct the losses, expenses and investments that are allowed to be deducted. Income from foreign sources should be included in the total profits whether remitted back to Britain or not, but the income from foreign subsidiaries can only be attributed to the British parent company after the actual profit distribution.
Income derived by resident companies from foreign countries, whether it is a double taxation agreement or a unilateral tax reduction or exemption, is exempt from double taxation. Profits of non-resident companies operating in the UK through branches or agencies shall be subject to corporate tax. Other income in Britain, except for the protection of double taxation treaties, is taxed at the basic tax rate. Corporate tax also stipulates accelerated depreciation. When taxpayers reinvest part of the sales income of operating assets in another asset, the government's policy of encouraging capital investment and promoting the balanced development of regional economy will be realized.
Social insurance tax for employees, the income below the prescribed lower limit and above the prescribed upper limit is not taxed, and the income within the upper limit and lower limit is levied at a graded progressive tax rate; There is only a lower limit and no upper limit for the total wages paid to employees by employers, and a progressive tax rate is also adopted. Employees and employers are divided into two situations: within the national pension plan and out of the plan, and the applicable tax rates are different. Under the same circumstances, the tax rates of employers and employees are different.
VAT is levied on all goods and services provided in the UK or promoting its business activities, and on imported goods and specific services entering the UK (excluding duty-free and non-taxable goods and services). Export commodities, food, books, construction, transportation, medicine and other commodities and services are subject to zero tax rate, while other commodities and services are subject to uniform standard tax rate. The tax base is the value of the goods (or services) provided, which is usually the total cash reward received by the goods (services) provider (if the reward is in kind, it is calculated according to its open market price).
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