“The government is introducing a ‘Register of Overseas Entities’ to crack down on foreign criminals using UK property to launder money. The new register will require anonymous foreign owners of UK property to reveal their real identities to ensure criminals cannot hide behind secretive chains of shell companies, setting a global standard for transparency. The … Continue reading
HM Revenue and Customs defines a non-established taxable person (NETP) as “any person who isn’t normally resident in the UK, doesn’t have a UK establishment and, in the case of a company, isn’t incorporated in the UK.” Unlike companies or individuals based in the UK, NETPs must register for VAT when taxable supplies, regardless of … Continue reading