Seeking guidance or insights from individuals in comparable situations to ensure we navigate this effectively, avoiding exorbitant fees from accountants who are adept at charging high amounts.
We have a UK company that is running. We have now immigrated permanently to Australia with the main shareholder also a permanent resident of Australia, making it a ‘Resident’ company in Australia. We run the UK company remotely from Australia. From various conversations with accountants, we have pulled the information that we will need to apply for MLI (Multilateral instrument) determination with both the ATO and HMRC. Once approved we will have to file our annual accounts to HMRC as zero and with ASIC with the income being foreign income. (along with nice annual $ fees).
1- Has anyone done this themselves and are able to provide guidance on how to go about this process?
2- We are looking at setting up an Australian version of the same industry and would love to combine / simplify it all, BUT we have a discretion issue with the UK clients not being aware of the now Australian location so cannot have this on their invoices etc Does anyone have structure ideas we could look into? Setting up a trust etc?
3- If we run everything through an Australian company, can the invoices still charge VAT in the UK? And will they require the ABN/Address to be listed as per invoicing requirements in Australia? Or are their different rules for foreign invoices?
Thank you in advance.
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