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Moving from Man

25 June 2013
Issue: 4408 / Categories: Forum & Feedback , Companies

In a scenario that is the reverse of that usually encountered, the shareholders of an Isle of Man limited company intend that its place of residence should be moved to the UK

Our client is a non-resident company based in the Isle of Man which owns a portfolio of UK properties. Due to changes in the property sector and significant overheads being incurred for the management and administration of the companies our client would like to transfer the company from the Isle of Man to the UK. The following matters would need to be addressed:

  • change in Companies Act;
  • transfer of VAT registration;
  • income tax versus corporation tax;
  • losses position etc; and
  • any other matters which we may have missed out.

Is there any guidance on the procedures required in respect to the transfer? Can the company be treated as redomiciled in the UK?

Could there be a deemed disposal by the offshore company of the underlying property assets and if...

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