Running a UK Limited Company from Italy

[chaniemoon]

Hello, I need some help regarding my Private Limited UK Company that deals with Video and Photo Production activities.

I am a UK Resident and set up the company in February 2016, I hope to be trading by the end of this year but need first to understand how to go about with the companies taxes as don't want to run into any complications on the way.

I am currently 7 months pregnant and in September I will be moving to Italy to live with my Italian Boyfriend and father of my baby.

I am very confused about how my company taxes will be dealt with.

I have an office address in London where all my post is forwarded from HMRC and Companies House and at the moment even though I am not trading I am submitting nil Tax and VAT returns to them.

My Company will be run online and I hope to trade with clients all over the world. I have already made communications with companies in Italy, The UK and Dubai and these look promissing.

I read that as the company is from the UK, I can pay Corporation Tax of the companies profits in the UK and any dividends I take from the company as my personal wage will be taxed in Italy. is this correct?

I am new to all of this and don't want to mess it up before I have even begun trading.

Help would be appreciated.

Chanie

[simplyaccountant]

Chanie,

If your company is not trading, simple thing to do is call HMRC and inform about your company's trading status. They will take your company off the list of companies requiring to file Corporation tax return, until you inform otherwise.

However, you may have to comply with companies house by filling "annual confirmation statement" every anniversary of incorporation date and also need to file dormant company accounts with in 9 months form the last day of your accounting period to keep company live, as oppose to dormant.

With reference to your dividend withdrawal, it's your personal income you may be eligible for "Double Taxation Relief" on your uk self assessment tax return. I would suggest you should appoint an accountant in uk to advice you on this matter.

Hope above helps.

Regards
M Patel.