Hi All.
UK small company which has a branch in Moscow is filing consolidated accounts in UK. Can the UK company claimfull AIA on furniture bought for its Moscow branch?
Appreciate any input.
Replies (4)
Please login or register to join the discussion.
Are the profits of the Moscow branch subject to UK CT?
Consolidation, or not, of accounts is irrelevant for tax purposes.
Having said that, you refer to consolidated accounts (which suggests a subsidiary) but also to a branch (which suggests a single company). Which is it?
If it's a branch them why are you talking about consolidated accounts?
And you didn't answer my other question - are the overseas profits subject to UK tax?
Which set of books are they in?
The Russians typically keep several sets. The real ones, the ones for the shareholders/lenders or other parties, the ones for the tax man, and a spare 'real' set to show to anyone who doesn't believe the set they are given.
Ni stoit