Domiciliary Services
Complete managed company domiciliation services for your UK entity
For some clients, it is important that the UK company is effectively managed and controlled in the UK and that there is clear evidence of this fact. Elemental has an in-house team of experts covering company secretary, governance, legal, tax, and accounting which means:
Integrated
We have all the services you need in one place to stay compliant.
Tailored
We can provide tailored advice on what needs to be put in place to ensure company domiciliation stands up to scrutiny.
Simple
Avoid the complexity and cost of having to deal with multiple advisors.
Corporate Redomiciliation
In late 2020, the UK government launched a consultation regarding corporate redomiciliation. It is not currently possible to formally redomicile a company to the UK. The normal ‘stop-gap’ is the insertion of a UK holding company. However, it is possible to on-shore a non-UK company for tax purposes. For clients who wish to do so we will:
- Review the relevant double tax treaties and, together with your advisors in your current jurisdiction, compile a list of things you must (and must not do) to create tax residency for your company to the UK, and break your existing residency.
- Appoint our professional directors to the board to meet the UK domestic requirements of a company being centrally managed and controlled (and therefore tax resident) in the UK
- Help you decide whether your existing accounting framework is compatible with the UK tax environment. There should not be any entry taxes, but any pregnant gains or losses will need to be carefully considered by our experts.
Ahead of the conclusion of the government consultation on redomiciliation, if you are looking to redomicile a company in the UK, please get in touch.
Our Domiciliation Services
UK resident directors
We use professional UK resident directors, who are typically professionally qualified (solicitors, accountants or investment professionals, as may be required)
UK office space
Dedicated office space can be arranged, to ensure the company has a real and substantive base in the UK. The office space is available for overseas staff when visiting the UK.
Financial administration
Bookkeeping, annual accounting and tax compliance can be outsourced to our UK-based specialists, satisfying the Companies Act requirements to maintain accounting records in the UK.
Telephone, email and website
A UK telephone number can be set up with a call answering service for when the director is not available. This can also be combined with a dedicated company email address and website if desired.
UK administrative staff
A UK staff member (in addition to the director) can be assigned and placed on the payroll if further support is required.
SPV and Holding Company Management
Our domiciliation services are often combined with our SPV and Holding Company Management services
These domiciliation services are generally utilised in conjunction with our SPV and Holding Company management services, which ensure that the administrative and compliance requirements are met.
Tried and tested
Over the past 10 years we have reviewed our domiciliation services with tax authorities and big 4 auditors. We have also successfully secured a mutual agreement procedure with HMRC and a foreign tax authority.
Domiciliation Services Review by the Australian Taxation Office
We were supporting various Australian and UK companies that were UK tax residents. The group was being investigated by the ATO solely due to its size and, as part of this, the ATO challenged the UK tax residence of the Australian companies.
Following a thorough review of our work, including multiple years of board minutes, evidence of challenge, communication, and agreements, the ATO accepted they were UK tax residents.