Hello,
I am a university student and have an issue I can not get around, please can someone help me? => Imagine this scenario: Jack and Jill are of Spanish Nationality but reside in the UK, where they work in a post office. They both come up with a new idea for selling sunglasses online so they
incorporate a Limited Liability Company (LLC) in USA (say Texas for example). What will be the taxes involved in this setup? Jack and Jill already pay Income tax and National Insurance to the UK government for their jobs in the post office. Since the LLC they want to form is in USA, they do not have to pay CORPORATE TAX (which is stipulated in US law for foreign owners). They also do not have to pay income tax to the US government for the same reason. So my question is => will they both have to pay income tax on their earnings from the LLC to the UK government?
Thank you very much in advance, I really appreciate it. Tracy