UK Subsidiary of Non UK Parent - Accounts Question

jaskirat · Jul 13, 2009

Hi,
Greetings to every one.
I have a question for which I have been trying to search around and so far I have not found much.

If there is an overseas company which sets up a subsidiary in UK. In the year end accounts of the UK company to HMRC or Companies House, what extra information if any is required to be given. Ie. other than what a regular UK company would do .. or other than what a subsidiary of a UK parent company would do.

Thanks
Jas

Maslins · Jul 13, 2009

You need to have details of the ultimate controlling party (ie the individuals who are shareholders at the very top of the chain) mainly for money laundering reasons.

Other than that...not sure, but can't think of anything.

RAL · Jul 14, 2009

Hi Jas

As fas as Tax & HMRC concern if subs is incorporated in uk or its place of central management and control is in uk, then it is regarded as UK-resident. Then it will be fully liable to uk corporation tax on its worldwide profit in the same way as any other resident company. It is possible for subs to take advantage of small companies corporation tax rate. This small rate band needs to divided by number of companies in group.

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UK Subsidiary of Non UK Parent - Accounts Question

jaskirat

Maslins

RAL

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