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Transfer between international ltd companies

I want to know the best way to transfer funds between a European ltd co and one in the UK

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Hi,

I'm thinking of setting up a ltd company in a European country. I would have residence there so funds would be taxed in that company. If that company made a profit, is there a way for me to transfer that to my uk based ltd company? 
Would that incur additional taxes or CGT? 
 

thanks,

stacy

Replies (7)

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By williams lester accountants
30th Nov 2021 07:29

You really need an accountant, go see one. Normally first meeting is free.

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By Tax Dragon
30th Nov 2021 07:41

When you have your first free meeting, ask them about the transfer of assets abroad rules. If they look a bit blank, fix yourself up with another free meeting with another accountant. You'll want to appoint one that actually has some knowledge of cross border tax issues.

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By Leywood
30th Nov 2021 08:06

What made you have that thought without getting advice?

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By paul.benny
30th Nov 2021 08:40

+1 to above advice, particularly that from Tax Dragon.

To give you a flavour of some of the issues - "residence" in a country can have different meanings for tax purposes to the everyday meaning of where you live. Moving from UK to another country does not necessarily change your tax residence. And that's just the start of it. Companies have residence too; you'll need to think about VAT in your new country (the UK has one of the highest registration thresholds) and, quite possibly payroll taxes too.

Some of these things might not be relevant - a good accountant will delve into your plans to find out what is and isn't important.

Finally, if your chosen country is France, accountantccole of this forum is a British accountant in France and may be able to help. (Only know her through her posts here. No other connection).

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Replying to paul.benny:
Caroline
By accountantccole
30th Nov 2021 10:01

Thanks Paul

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RLI
By lionofludesch
30th Nov 2021 09:15

A lot of accountants don't have much experience of this sort of stuff so good luck if you're thinking of doing it yourself with the help of a few anonymous folk on the internet.

Key piece of information missing - what European country ?

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Caroline
By accountantccole
30th Nov 2021 10:03

You definitely need to talk to an accountant who can deal with both sides.
There will be personal and business tax planning to do if you are working cross border. You need to get the business structure right from day 1.
If it is UK/France feel free to message me.

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