International & Offshore Tax Advice for UK Businesses – Introduction
As is the case for individuals, businesses have a global outlook and many UK based businesses have customers and interests oversees. Correspondingly, overseas businesses may have customers, staff and property interests in the UK.
We are experienced at advising clients in all these areas.
Below is an overview of some of the issues a business may encounter and a flavour of some of the areas we can assist.
International Tax Structuring
Whether you are trading or investing overseas or whether you are using valuable intellectual property then the way you structure your affairs can have a massive impact on the overall tax that you’ll pay.
However, there is plenty of UK and international tax avoidance measures that can prevent you from diverting profits and other income to offshore tax havens. It is therefore important to adopt a commercial approach to any structuring.
We can advise on how to put in place a commercial and tax efficient structure. This will take in:
- Designing and implementing tax-efficient structures;
- How to bring profits back to the UK or how they might otherwise be extracted by the business owners;
- Advising on withholding taxes;
- Obtaining tax clearances;
- Advising on double taxation treaties and relief;
- Assessing the impact of anti-avoidance rules such as Controlled Foreign Companies (“CFC”) rules; and
- Handling tax enquiries from UK and overseas tax authorities
International Tax Compliance
There has never been the levels of tax co-operation between countries as currently exists. Whether through FATCA, CRS or under the new EU Tax Avoidance Directive. Slowly, the international community is coming together to combat aggressive tax avoidance and tax evasion.
Generally speaking, taxing authorities are getting increased powers and penalties to counter any one adopting a free and easy approach to tax compliance.
We offer cost-effective services for international businesses and ensure that you are meeting your tax obligations.
Double Tax Treaties
Businesses that are conducting business across borders should be aware of double tax treaties. The availability and specifics of such treaties are likely to impact on how a business is structured.
Research & Development (R&D) Relief
R&D relief is commonly available in many international jurisdictions, including the rather attractive regime in the UK for small and medium businesses.
Where qualifying R&D takes place could have significant economic consequences. As such, careful consideration should be given to where R&D takes place.
Other reliefs are widely available for the creation and exploitation of R&D so, again, this will feed in to some of the commercial decisions of the business.
SMES expanding abroad
Following the EU referendum, we have seen many SME’s looking to capitalise on the relatively low value of the pound to sell their products and services internationally.
It makes sense to consider the best way of exploiting these opportunities.
Further, it might be the case that a business needs to have an entity that is located within the EU to carry on thriving post Brexit. We have advised a number of businesses in this position.
International Property Investment & Development
We deal with a number of international businesses who have, or are looking at, acquiring land and property in the UK for a multitude of reasons.
These may be direct property investors, property developers and also investment funds.
The taxation of UK land is now a highly specialised topic and extreme care must be taken if one does not want to leak value from a property deal. We have that expertise.
If you have any queries around International tax advice for business, then please do get in touch.
International tax advice for business was last updated on 4 July 2019