tyb
something for the u.k anons to bear in mind.
bringing forward from last bread.
o7
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tax havens are the for the rich only, but first you have to know they exist
>>22260406 lb tax rates n the u.k
Isle of Man and Guernsey Tax Rates
Based on the provided search results, here is a summary of the tax rates in the Isle of Man and Guernsey:
Isle of Man
Income Tax:
Standard rate: 10% on taxable income up to IMP 6,500 (single) or IMP 13,000 (jointly assessed couples)
Higher rate: 22% on taxable income exceeding the standard rate limits
Personal allowance: IMP 14,500 (single) or IMP 29,000 (jointly assessed couples), reduced by IMP 1 for every IMP 2 that income exceeds IMP 100,000 (single) or IMP 200,000 (jointly assessed couples)
Tax cap: IMP 200,000 (or IMP 400,000 for married couples) on an individual’s income tax liability for the five years commencing 6 April 2020
Corporation Tax: 0% for most Isle of Man companies, except for income from Isle of Man land and property, which is taxed at 20%
Guernsey
Income Tax:
Flat rate: 20% on all income
No personal allowance or tax bands
Employers deduct Employees’ Tax Instalment (ETI) from employees’ pay, which is credited against their income tax liability
No National Insurance Contributions (NICs); instead, Guernsey has Social Insurance (SI) contributions at a rate of 6.6% on earnings between the Lower Earnings Limit (LEL) and the Upper Earnings Limit
Note that these rates and rules are subject to change, and it’s essential to verify the information with the relevant authorities or tax advisors for the most up-to-date and accurate information.