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International Issues
Making the complex simple
Despite economic, political and social challenges across the globe, expanding overseas remains high on the agenda of UK businesses. Where a UK business has plans for expanding overseas, tax issues and opportunities are almost certainly going to arise.
Setting up a Business Overseas
As more and more individuals are looking to re-locate overseas so to are many businesses. This may be because the business owner is leaving the UK, or because the owners want to expand and/or set up a regional centre overseas.
The way the company operates in a new country will be critical in determining its tax liability. Usually, a company will have a taxable base if it is resident in a country in which it is doing business or, instead, has a permanent establishment in the country.
There are many tax considerations including an analysis of double tax treaties, VAT, transfer pricing and extraction and/or repatriation of profits, and it is critical to seek expert advice. We can assist will all aspects of setting up a business overseas.
Re-domiciling An Offshore Company
There are many reasons why someone might set up a company or business overseas, and overseas structures have been particularly popular with UK property investors. However, there are also many reasons why someone may want to “move” that business back to the UK, not least because many of the tax advantages which existed when the business or company (or trust) was set up may no longer exist; and the costs of operating that structure may be prohibitive. We have significant experience in assisting clients with winding up overseas structures (including trusts) and “repatriating” them to the UK if appropriate.
Case Study
International Issues
