Income transferred to non-resident partners is not subject to UK income (corporate) tax. The tax report is filed once a year (even if the company does not pay income tax).

LLP, whose profits are not taxed, is not a UK tax resident.




* A non-resident LLP will not be able to obtain a certificate of UK tax residency and will not be able to benefit from double tax treaties concluded by the UK.




Annual Accounts - contains information about the financial activities of the company. The report must be submitted within 9 months from the end of the reporting period. By default, the reporting period is defined as the calendar year from the date of registration of the company, and the company can choose the date of the end of the financial year, if it wants.

The tax rate is reviewed annually and is now: 19%.




From April 1, 2018, the rate will be reduced to 18%.

• Registration of a new partnership will take 7-10 business days.
• There are ready-made partnerships that take 1 day to complete.

If a company conducts operations in the UK or other EU member states or with companies from EU member states, then it may be required to register as a VAT payer and receive an appropriate tax number.

Each English company must register in the VAT system as soon as the volume of its taxable supplies, including supplies with zero VAT, exceeds 83 thousand pounds in the last 12 months - the limit set for 2016-2017.

Up to this point, voluntary registration is possible if the company has reason to believe that its supply volumes are about to exceed this limit. As evidence, the company provides the tax service with contracts and invoices, as well as agreements of intent.

Each company registered in the VAT system must submit quarterly reports to the tax service. If for several consecutive reporting periods the English company submits zero reports - there is no VAT either payable, offset or refund - it is excluded from the register of VAT payers until the situation changes. Then she will have to register again.

VAT registration takes about 1-2 months. The VAT rate is 20%.

• A minimum of 2 partners is required.
• Data on Controlling Entities (PSC).
• Amount of investment in partnership capital and information on the distribution of shares between partners.

The reports presented by English companies are divided into information and financial. It is important to submit them on time and correctly reflect in them information about the activities of the company during the year.

Confirmation Statement (formerly Annual Return) - is a form of annual reporting.

The report contains information about the founders, directors and other officers of the company, main activities, etc.

Penalties for late submission of the annual report are not provided, but in case of untimely submission of the report, the company is included in the liquidation lists.

In addition, the company must file a profit tax return, which must also be accompanied by a copy of the financial statements, to the tax office (Her Majesty Revenue and Customs). The reporting deadline is 12 months from the end of the financial year. However, the tax itself, if the company received taxable profit, must be paid no later than 9 months after the end of the financial year.