Hi
I am currently working in the UK, with some rental properties back in NZ. I am sending the £ home right now to pay them off. The rentals are in LAQC's. Because I have not been in NZ and not earning a NZ wage, I have not been using the loses from the LAQC's so they have just been accumalating.
Now however my visa is about to expire and normally I would just apply for a highly skilled migrant visa (HSMP), but the HSMP is partly tested on income earned in the UK in the last year, and because of travelling etc I have not made enough money to stay.. If working in the UK and over 28 you need to earn £40,000 or more
So I have to go home soon. But I found out after working in NZ for a while I can apply for the HSMP via NZ, and the income threshold is alot less - to make up for the lower pay in NZ - its only £17,500.
So my plan is to come back in NZ and contract for a while, supplementing my income with directors fees from my LAQC to get me the £17,500 faster so I can head back to the UK asap. I will be paying tax on these directors fees, but then won't that be offset by me using the accumalted losses from the LAQC?
Are you allowed to pay yourself directors fees, and then use the loss in the LAQC to offset the tax on them?
Thanks any advice will be appreciated.
I am currently working in the UK, with some rental properties back in NZ. I am sending the £ home right now to pay them off. The rentals are in LAQC's. Because I have not been in NZ and not earning a NZ wage, I have not been using the loses from the LAQC's so they have just been accumalating.
Now however my visa is about to expire and normally I would just apply for a highly skilled migrant visa (HSMP), but the HSMP is partly tested on income earned in the UK in the last year, and because of travelling etc I have not made enough money to stay.. If working in the UK and over 28 you need to earn £40,000 or more
So I have to go home soon. But I found out after working in NZ for a while I can apply for the HSMP via NZ, and the income threshold is alot less - to make up for the lower pay in NZ - its only £17,500.
So my plan is to come back in NZ and contract for a while, supplementing my income with directors fees from my LAQC to get me the £17,500 faster so I can head back to the UK asap. I will be paying tax on these directors fees, but then won't that be offset by me using the accumalted losses from the LAQC?
Are you allowed to pay yourself directors fees, and then use the loss in the LAQC to offset the tax on them?
Thanks any advice will be appreciated.
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