Do you have a business in the UK that does not require a physical presence?

by | Jan 9, 2023 | Gibraltar, Offshore Companies, Uncategorized

By Phil Cartwright emailFrom April 2023 onwards, the main rate of corporation tax in the UK will rise from 19% to 25%. Although the current 19% rate will still apply if your profits are £50,000 or less, your company will pay more tax on profits above this level.

This will affect many businesses.

Are there any other choices available?

Yes, Gibraltar. If there is no reason to have a physical presence in the UK and your business is online, you could set up in Gibraltar and pay corporation tax of 12.5%.

There are extra incentives to move to Gibraltar which include a relocation allowance and plenty of sunshine!

When is the best time to relocate?

If you are a UK taxpayer then relocating by the 6th April (the start of a new tax year) is ideal. Property is in short supply in Gibraltar so finding a property before the summer tourist months makes sense.

What other taxes are charged in Gibraltar?

Gibraltar is not subject to VAT, inheritance tax or capital gains tax. Income tax is charged on personal income on a staggered rate as below:

Taxed As Follows Tax Rate
First £25,001 20%
£25,001 – £353,000 29%
£353,001 – £704,800 20%
£704,801 – £1,000,000 10%
Excess over £1,000,000 5%


There are other tax regimes available in Gibraltar such as Category 2 or HEPSS (High Executives Possessing Special Skills) where income tax can be capped if the individual meets the criteria.

At Octopus, we find the right solution for you. Whether it is setting up a Gibraltar company or applying for a specific residency status, we cater for your needs. We work with UK tax advisors who specialise in re-structuring individuals wealth.

Contact us now for a free consultation.

Call us on +350 200 77779 or email us on

 By Phil Cartwright