hello,
we are interested in forming a U.K. LLP (for liability management purposes). There will be two partners:
a) A Malta Limited Company (99%)
b) a individual resident of Italy (1%)
my undertanding is that as long as the UK LLP doesn't not have any UK income, the profit from the LLP will flow to the partners and taxed at the Maltese corporate rate in Malta and at the rate of income of Italy for each partner respectively with no UK tax (either corporate tax or otherwise).
Is that correct?
Will we members to file anything with HMRC?
thanks a lot!
Paul
Replies (2)
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Just to set some expectations
Thanks for your question Paul. There could well be aspects of your situation that might be of interest to our members and we are happy for you to participate in discussions on AccountingWEB.
Our hope is that you will get some constructive answers, but as you might have anticipated the site is populated in the main by qualified accountants, some of whom may grumble that you're an outsider looking for free advice.
This site is an open forum and there are no requirements for professional qualifications to take part. However I thought it might help to alert you to other members' sensitivities in case you do encounter any negative responses. Please don't be put off by them, and I hope that you are successful in your quest to find a sympathetic accountant.