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Tax return for UK branch of overseas company

Tax return for UK branch of overseas company

Hi all

I have a client where they are a UK branch of an overseas company. We will be submitting a tax return for the branch however the client has said thy won't be able to produce a set of accounts to submit with the return. They have provided us with information they believe they need to include in the return (primarily in the form of spreadsheets) but there is nothing which we believe would be suitable to submit to the revenue as a 'set of accounts'. We could submit the accounts of the overses company, but of course there will be no numbers in those which will tie to he tax comp for the branch. Is it OK to just submit the company's accounts rather than some some which support the branch results?  I never really know where to look for the answers - HMRC's manuals aren't shedding any light for me!

Cheers

Aid

 

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24th Feb 2016 14:12

We have
A client who is a uk branch of an overseas company. We do produce accounts for the uk branch and submit them with form CT 600. However hmrc rules allow us to submit them as a pdf attachment . Our ixrbl would not be possible as the accounts are not in uk companies act format.

Presumably there is some sort of registration at companies house ( branch) and you are therefore required to file at companies house. Could you not just submit those accounts as a PDFs attachment.

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By mely
24th Feb 2016 14:23

PDFs are fine

I have a couple of US companies with PEs in the UK. I simply file PDF accounts with the CT return (through IRIS).

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By JimFerd
24th Feb 2016 14:31

I think the problem the OP has, is that there have been no branch accounts prepared.

If they know the correct figures in order to complete a correct CT600, then equally I'd expect them to have figures to prepare P&L account - the balance sheet may prove tricky though.

I've never needed to prepare a PE set of accounts though, so I'm just assuming here that a separate set would be necessary for the branch to accompany the CT600

 

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29th Feb 2016 14:39

we have

We have a client who has a UK branch and we submit a set to HMRC only. Assuming your client (UK branch) has some form of income here in the UK, then you need to only submit a set of accounts to HMRC.

Further we use a software that provides us a branch accounts in Ixbrl format. Remember the branch will be registered with companies house so you can obtain the company number, generally it is "BRXXXX". XXXX being numbers..

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01st Mar 2016 11:27

Foreign Accounts

I have dealt with many of these. Strictly, the foreign company has to submit a set of its own accounts to HMRC and Companies House but neither seem too bothered if they do not get them. They can be sent to HMRC as a pdf as iXBRL is not possible. HMRC will want a P&L account of the branch and a balance sheet if possible, which can be included as part of the tax computations or as a pdf. The branch will be taxed as though it were a separate entity operating independently and so HMRC will want to see the figures (assuming they bother o check!)

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