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Double Taxation Compliance

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Hi there, 

Got a question for you all! I'm a qualified accountant who's a noob in tax, any help would be much appreciated. 

If a non-UK resident sets up a limited company in the UK and is eligible for double tax relief, do you still need to file accounts and taxes as per normal and get tax relief?

Or would their compliance be much lighter somehow? 

Thanks,

Kris

Replies (15)

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By Sarah Z
04th Aug 2020 23:24

The company needs to get proper advice from someone who has all the facts

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By Tax Dragon
05th Aug 2020 07:16

Ditto Sarah, but I will tell you something for nothing. If I had set up my company overseas, it would not have reduced my UK reporting in the slightest - and may (depending where I chose) have increased (rather than reduced) my global compliance obligations.

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By Wanderer
05th Aug 2020 07:50

Q1 Yes.
Q2 No.

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Replying to Wanderer:
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By Tax Dragon
05th Aug 2020 08:12

Or, depending on the facts (and what "normal" means):

Q1 No
Q2 Yes

(Or maybe yes, yes. I don't think no, no is possible, but I may be lacking imagination today.)

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By sooman00
05th Aug 2020 08:45

Hi all, thank you so much for your replies. FYI I work in industry so I don't take on any clients. This was just a tax question that was floating in my head. I'm not quite happy with the fact that CIMA doesn't cover things like this. But then again, I guess ACCA doesn't go too much in depth with tax either given that it's not a tax qualification. Good to get some feedback from you gurus :)

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Replying to sooman00:
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By Paul Crowley
05th Aug 2020 09:24

Did you really intend to insult the members of ACCA? Do you really consider the qualification NOT a tax qualification.

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Replying to Paul Crowley:
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By Tax Dragon
05th Aug 2020 09:37

Did you mean to insult CTAs? Do you really consider ACCA an equivalent tax qualification?

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Replying to Tax Dragon:
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By Paul Crowley
05th Aug 2020 09:59

Which organisation has more members dealing with tax compliance?
I assume you similarly do not consider ACCA to be a tax qualification. You are of couse entitled to your opinion.
I am old enough to remember when exam free membership was available to ICAEW members.

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Replying to Paul Crowley:
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By Tax Dragon
05th Aug 2020 10:19

I'd guess that 100% of active CIOT members are involved one way or another in tax work. But so bleeding what?! It's self-evidently obvious that ACCA teaches stuff that CTA doesn't, and CTA teaches stuff that ACCA doesn't. The qualifications are different; consequently professionals need to work together. (You can do stuff I can't, and vice versa.)

Anyway, can we please leave this (type of) debate to the cowboy/unqualified/QBE/etc threads, if we have to have them at all?

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Replying to sooman00:
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By Tax Dragon
05th Aug 2020 09:39

sooman00 wrote:

This was just a tax question that was floating in my head.

Should have left it there. There're enough real life tax issues without worrying about stupid fake ones.

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By sooman00
05th Aug 2020 11:34

haha oh my god this is hilarious. why is this forum so toxic?

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Replying to sooman00:
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By Tax Dragon
05th Aug 2020 12:17

You've lost me. What's toxic about saying professionals need to work together?

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Replying to sooman00:
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By Paul Crowley
05th Aug 2020 12:54

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By sooman00
05th Aug 2020 08:45

........... But then again, I guess ACCA doesn't go too much in depth with tax either given that it's not a tax qualification. ..........

Probably because people looking for answers make this kind of comment.

Disinterested as I am ICAEW

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