What is a Corporate Tax Residency and What Information Do Entities Need to Provide?

What Is The Concept Of A Corporate Tax Residency? Corporate tax residency is a concept used by the UK government to determine whether to treat businesses operating in the UK as residents on non-residents. Which companies are treated as UK residents? Generally, UK incorporated companies are treated as UK residents. Additionally, companies incorporated overseas are […]
Are You Looking to Switch Accountants? Follow These 5 Steps

Most clients and businesses are usually unaware of how to switch accountants they are unsatisfied with. As your accountant holds a lot of business information, things can get complicated once you decide to look for a new accountant – especially when you are entirely dependent upon them. Fortunately, you can make this transition hassle-free for […]
How To Create Your Government Gateway Account?

Setting up Government Gateway Account A Government Gateway user ID is a series of 12 digits that you can use to access the UK government’s secure online services including the HMRC portal. Follow the steps below to create your Government Gateway Account: Step 1. Go to HMRC’s Login Page Visit HMRC’s login page by visiting […]
What Is Intrastat And What Should You Know About It?

What is Intrastat? Intrastat is a system that collects statistics on the trade in goods between European Union (EU) member states. Please note that supply of services is excluded from intrastat. Which businesses should submit Intrastat? All VAT-registered business trading goods with other EU member states are supposed to make certain declarations and submit intrastat. What determines the amount of information […]
How to Respond to Money Laundering Allegations

Anyone facing a money laundering investigation needs to seek expert legal representation immediately. Such an investigation has to be handled by those with the experience and expertise to robustly challenge the authorities on points of law and evidence. That is the only way to secure the outcome that you are entitled to. Money laundering investigations […]
How to Ensure AML Compliance

AML fundamentals As each jurisdiction has specific AML requirements, let’s examine best practices that will serve you well, no matter what country you’re doing business in. Written policies Don’t try to wing it. AML compliance is not something you want to improvise. Think policies through carefully, state them clearly and have it written out for […]
The Advantages of Voluntary VAT Registration for Small Business

Value Added Tax (VAT) is the sales tax levied against goods and services within the UK. Businesses with a turnover in excess of the VAT Registration Threshold (currently £77,000 P.A. 2011-2012) are required by law to complete a VAT Registration with HM Revenue & Customs. Businesses that fail to do so within 30 days of […]
Limited Company Closure; Why, When and How?

The Why And When Of Closing A Limited Company Starting a business is tough. But closing up shop can be even tougher. But knowing when to throw in the towel will save further damage. Here are six signs that point to the end. You Are Not Meeting Yearly Targets After two to three years, it’s time to […]