Statutory audits + invoices for services from tax haven company
Posted: Thu Jan 10, 2019 10:31 am
This question is linked to another question I've asked over on the VAT forum.
Quick bit of background: I work for a UK based VAT registered company with turnover in excess of £10M and therefore subject to statutory annual audit. The company is seeking to engage a marketing consultant to improve the business online marketing, lead generation, website, seo etc. The consultant that has been selected operates from a Seychelles LTD corporate entity, so a business outside the EU would provide services to a UK based business, B2B.
Since the monthly invoices for the consultancy services would come from a non EU domicile that is considered to be a tax haven jurisdiction, does this scenario pose any challenges or red flags with regards to our annual accounts or statutory audit status?
Are there any additional safeguards or steps we should take to ensure transparency and avoid creating any situation that might look suspicious, or potentially trigger our auditors, or set off a tax investigation of any sort?
Quick bit of background: I work for a UK based VAT registered company with turnover in excess of £10M and therefore subject to statutory annual audit. The company is seeking to engage a marketing consultant to improve the business online marketing, lead generation, website, seo etc. The consultant that has been selected operates from a Seychelles LTD corporate entity, so a business outside the EU would provide services to a UK based business, B2B.
Since the monthly invoices for the consultancy services would come from a non EU domicile that is considered to be a tax haven jurisdiction, does this scenario pose any challenges or red flags with regards to our annual accounts or statutory audit status?
Are there any additional safeguards or steps we should take to ensure transparency and avoid creating any situation that might look suspicious, or potentially trigger our auditors, or set off a tax investigation of any sort?