I have been approached by the local managers of a UK company to assist with preparation of payroll and monthly reports for their directors (possibly annual accounts).
Company is UK registered
Three resident in Taiwan
One resident UK
98% held by one of the Taiwanese directors
1% held by the UK director
1% another Taiwanese director
Last (abbreviated) accounts show shareholder deficit £723k. I will clearly need to get further information but assume the vast amount owed is to participators.
I need to have a closer look at their situation and requirements before deciding whether to accept appointment but assuming I decide to act from a ML ID point of view what is the sensible way to comply?