- Northern Ireland is a part of the United Kingdom, a leading global financial and business centre and an important jurisdiction for international tax planning. The UK is known internationally as a jurisdiction with a standard level of taxation. However, the UK law provides the opportunity for registration and operation of companies with a zero tax rate - Limited Partnerships (L.P.).
- An L.P. is a partnership of at least two members that is formed by filing registration forms (form LP 5) with the Registrar of Companies of Northern Ireland.
- A Northern Ireland L.P. with foreign members, which does not carry on a business in the UK and derives no income on UK territory, is not liable to tax in the UK. According to the tax laws of Great Britain, the L.P. is not considered as a separate subject of taxation. The founders ("Partners") should pay taxes from the profits received by the L.P. company in their place of residence in proportions according to their share of interests belonging to them in the L.P.
- As an example, a Northern Ireland L.P. which has as partners one Belize company and one BVI company, which receives the income only outside Great Britain, will not be assessed to tax. Taxes will be paid by the Partners in their country of residence if it is stipulated by the legislation of that particular country.
- The favourable tax regime of L.P. companies does not eliminate the requirements for preparing Financial Statements. Every L.P. must prepare and keep financial statements, and the relevant Partnership Tax return must be filed annually with HMRC (Her Majesty Revenue & Customs).
Northern Ireland (LP)
- Product Code: northern-ireland
- Availability: In Stock
- Ex Tax: 2,030.00€