27 April 2006
We have a number of clients who run businesses abroad or who own holiday homes through offshore companies. (We are aware of the potential benefit in kind problems for shadow directors of the property owning companies.) As the companies are typically incorporated outside the UK, the residence status of the company depends on where the central control and management of the business takes place. We can find very little guidance on how this test is applied for a business where the entire shareholding is held by one individual.
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Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
