The government has welcomed a report published by the Independent Expert Panel on Corporate Re-domiciliation (appointed by the Department for Business) which sets out proposals for a framework for a UK corporate re-domiciliation regime and has said it intends to consult on a proposed regime design in due course.
The panel ‘strongly supports the introduction of a two-way re-domiciliation regime to allow bodies corporate registered outside the UK to become a UK company and also to allow UK companies to re-domicile outside the UK’. Section 6 of the report sets out the main tax implications including potential changes that would be required to UK tax legislation to enable both inward and outward re-domiciliation.
In a written statement Jonathan Reynolds Secretary of State for Business and Trade welcomed publication of the report: ‘A UK re-domiciliation regime would increase the ease with which companies could move their place...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
The government has welcomed a report published by the Independent Expert Panel on Corporate Re-domiciliation (appointed by the Department for Business) which sets out proposals for a framework for a UK corporate re-domiciliation regime and has said it intends to consult on a proposed regime design in due course.
The panel ‘strongly supports the introduction of a two-way re-domiciliation regime to allow bodies corporate registered outside the UK to become a UK company and also to allow UK companies to re-domicile outside the UK’. Section 6 of the report sets out the main tax implications including potential changes that would be required to UK tax legislation to enable both inward and outward re-domiciliation.
In a written statement Jonathan Reynolds Secretary of State for Business and Trade welcomed publication of the report: ‘A UK re-domiciliation regime would increase the ease with which companies could move their place...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
