"Moving" UK LTD to Europe

[compasscart]

Morning all,

My IT consultancy has no clients in the UK, clients are a mix of EU and USA companies.

I'm in the (long) process of personally moving to Europe and will establish tax residency here over the coming year.

I've also registered a new European LTD company with a similar name to my UK LTD.
Invoices to my clients will start to be issued from the EU entity soon and the UK LTD will no longer have significant income.

I'm looking for advice on:

• how to legally (and tax-efficiently) move the UK companies assets to the EU LTD (or myself)
• if there are any legal, tax, or residency implications to leaving the UK LTD open, rather than dissolving it

Is anyone else in a similar situation? Or knows of someone who has gone through this process?

Who should I be seeking advice from, this is not something my accountant has knowledge on? Any reccomendations?

[Manic]

You need a "better" accountant, or one that deals with both EU and UK entities. Likely to be someone who has more corporate experience, PWC for example although I'm sure a smaller and cheaper option might exist.

As for your second question, you will still have to produce returns for companies house and submit accounts unless you dissolve the company.

[Lance]

to answer your first question, UK LTD. must sell the assets to either you, or the EU LTD. It's really that simple. Anything else would be legally questionable.

[compasscart]

Is there a specialty name for this kind of accountant?
I’ve reached out to some international accountants and none were interested. Though one offered to dissolve the UK company.

[Lance]

Is there a specialty name for this kind of accountant?
I’ve reached out to some international accountants and none were interested. Though one offered to dissolve the UK company.

you're probably too small for most of them.
Try harder. Read the accountant recommendation thread.

[DerekDuvall]

Hi Compasscart,

I'm not 100% sure will she be able to help exaclty in this matter, but she does deal with cross-border companies a lot: https://www.evlateam.co.uk/

She is an accountant originally from Hungary and often supports businesses with presence both in UK and in Hungary, she might know how to transfer assets.

Hope it is some help, but it is a small accountancy with relevant experience...