Sheltons Accountants is a very focused accounting firm – working exclusively (since our commencement in 1995) with internationally operating businesses.
Our UK office works exclusively with inbound and outbound activities: either with foreign businesses dealing with the UK, or UK businesses operating overseas – whether it be direct investment (FDI), employing just one person, or exporting or selling on-line.
These scenarios involve an array of tax, legal, accounting, business and other challenges that most professional advisers do not deal with.
To this niche client base we offer a comprehensive range of services from high-level tax consulting to basic bookkeeping, setting up entities and assisting expats sent to the UK or sent overseas from the UK.
We pride ourselves on our quality and reliability. We are extremely successful in providing advice and assistance to ensure our clients do not receive unwelcome surprises.
Accounting & related
Providing the full range of accounting services to UK and foreign-based businesses is our daily bread and butter. Our language skills, knowledge of non-UK (and UK) accounting software, familiarity with relevant aspects in many overseas countries, familiarity with what foreigners find odd about UK accounting and related areas, and familiarity with UK businesses find odd about major overseas markets, equips us extremely well in serving our clients.
Our systems and procedures ensure that the matter at hand is not dependent on the availability of a particular person – we work as a team.
We also work in a way that enables us to easily avail of the resources in any of the other Sheltons Group offices should the need arises.
We have an extensive network of professional firms and other business partners around the world, enabling us to select the most appropriate firm and individual to assist our clients – without any obligation to use any specific firm or person.
We work extensively together with other firms in assisting them with their internationally operating clients, either working with the firm behind the scenes, or should the firm prefer, directly with their client. We are fanatical about protecting the referring firm’s relationship with their client.
We prepare accounts from source documents, or on the basis of preliminary work from the client, taking all relevant countries’ rules and the client’s wishes into account.
We use a variety of UK and non-UK accounting software packages.
We prepare UK statutory (legally required) accounts – as well as regular management accounts, with or without reports, analyses, etc.
We also prepare special-purpose accounts (such as pro forma accounts) and consolidated accounts.
Our services include reviewing client-prepared accounts and supporting the client’s internal accounting team, as appropriate.
We are ‘fluent’ in IFRS and have a good knowledge of the GAAP of a number of countries.
- Audit assistance
An important role is to liaise with the UK and overseas auditors in auditing UK and overseas entities. We have clear systems for preparing material to facilitate efficient audits.
We can often satisfy all questions from the auditors or at least significantly reduce the time demands on the client.
As a completely independent firm, we are not a member of any accounting network, resulting in an comfortable relationship with the auditors of the UK and non-UK parts of the group who will usually be in such a network.
- VAT services
We assist with all aspects of UK VAT compliance, from registration to setting up routines with the clients to ensure comfortable meeting of filing deadlines and the preparation and filing of VAT returns.
- Salary administration
Apart from advising employers and employees on the UK and international tax aspects of the employment (see under tax services), we provide efficient payroll administration services.
Many of our client cases involve employers based in other countries, directly employing staff in the UK.
The employees may well be UK residents or non-residents in the UK for shorter or longer assignments.
Providing payroll administration services for foreign businesses, or UK units thereof, often involves extensive interaction with the foreign part of the group. We pride ourselves in our ability to understand the needs of the foreign parts of the group and in our flexibility in providing the services.
Our broad range of services includes matters such as
- employer registration
- drafting and review of employment contracts
- visa assistance
- generation of payslips
- filing regular PAYE returns
- assistance with payment (net salaries, tax, etc)
- annual administration (reports to the tax authorities, the employer and the employees)
Apart from providing advice on employer obligations, we also provide comprehensive tax advice and expat relocation services.
Local tax advice and compliance – and international tax advice
We are widely recognised as being leading professionals in the area of local and international tax advice. Our origins in this regard goes back to the late 1980’s where Ned Shelton founded the specialist international consulting division of Crowe Horwath in the Netherlands (then known as Horwath International) being then and still now the 10th largest accounting network in the world.
Although Sheltons has branched out and is now a specialist accounting firm (working only with internationally operating businesses), tax is still a strong string to our bow.
See also below under Corporate tax, Personal tax – including UK international tax and UK international tax – corporate, as well as the separate section on international tax.
Our compliance services cover areas such as personal and company tax return preparation and reviewing assessment notices; obtaining tax residence certificates, obtaining tax clearance certificates, VAT return preparation, procedures for paying reduce withholding taxes in the UK and abroad and for requesting refunds thereof.
- Corporate tax
Our services on corporate tax cover a wide range. Some key areas on which we commonly advise are as follows:
Corporate tax generally
Deductibility of interest
Determination of residency
Obtaining tax rulings
Tax efficient financing
The application of anti-avoidance rules
Thin capitalisation rules
Treatment of foreign exchange gains and losses
See also under UK international tax and International tax
- Personal tax – including UK international tax
Personal tax – including UK international tax
Our services here cover a wide range. Some key areas on which we commonly provide advice are as follows:
Inheritance and gift taxes
Structuring local investments
Tax issues connected with pensions
Taxation of UK-sourced investment income
Taxation of foreign-sourced Investment income
Taxation of expats coming to the UK
Taxation on departing the UK
Taxation on working abroad
See also under Corporate tax, UK international tax and International tax
- UK international tax – corporate
UK international tax – corporate
Our services in the area of UK international tax cover a wide range. Some key areas on which we commonly provide advice are as follows.
Beneficial ownership under treaties
Controlled foreign company (CFC) matters
Determination of the profits attributable to a permanent establishment – in the UK and abroad
Existence – or not – of a permanent establishment in the UK
Existence of permanent establishment abroad
Interest & Royalties Directive
Management and control
Other EU tax aspects
Parent-Subsidiary Directive issues
Planning for foreign investment income
Reducing UK and foreign withholding taxes
Residency under tax treaties
Structuring investments abroad
Tax treaty application
Tax treaty interpretation
Taxation of foreign real estate owned by UK taxpayers
Transfer of residency to and from the UK
Withholding tax issues on payments from the UK
Withholding tax refunds
See also under Corporate tax, Personal tax – including UK international tax and International tax
- VAT advice
Disputes with the tax authorities
Eligibility for registration
VAT issues generally
See also under International tax
Entity set-up and management
Working exclusively with internationally operating businesses over more than two decades has resulted in Sheltons Group playing a leading role in the formation of several hundred entities – companies, general and limited partnership, trusts and other entities – in many countries throughout the world.
During our many years’ of experience in establishing companies and partnerships for foreign-based businesses, we have developed and fine-tuned our systems and procedures, enabling us to provide efficient and reliable services in this regard.
We only establish UK entities where the entity is conducting real business in the UK and has actual economic activity in the UK. We do not establish entities in the UK where the sole or primary purpose is tax mitigation, even if legal.
Our extensive international experience at Sheltons Group built up over the past two decades means that we are often quite familiar with entities in many jurisdictions – whether it be a Delaware LLC, a New York corporation, a German GmbH, A Danish K/S, a German KG, an Indian Pvt Ltd, a Brazilian Limitada, a South African (Pty) Ltd, a Dutch closed CV, etc., etc.
Apart from our expertise in establishing new entities we are also very experienced in the field of liquidations and winding up. We regularly assist in this in cases where the entity is solvent and a registered liquidator is not legally required to be involved.
See model below.african (Pty) Ltd, and Indian Pvt Ltd,
This is the normal private company form, requiring only one director and a no minimum share capital. It is similar to an Australian Pty Ltd, a South African (Pty) Ltd, and an Indian Pvt Ltd, and somewhat akin to a German GmbH or a French Sarl,
Almost all foreign-based groups use this form for their UK subsidiaries.
UK Private Client Services
At Sheltons Group, we also have expertise in assisting individuals with their UK tax position.
Our team of tax specialists will work with you to determine the most efficient approach to manage your personal wealth and ensure UK tax compliance. We can advise on any possible allowances and reliefs, as well as any tax losses or deferment opportunities that may improve your post-tax position.
Our international focus and knowledge allows us to address any cross-border considerations that might be relevant to your circumstances. With offices located in six jurisdictions, we are well equipped to take care of any compliance obligations that arise in associated countries.
We are convinced that, regardless of your UK tax concerns, we can assist you in implementing the most favourable strategy that will preserve and increase your wealth. To read some of our UK personal tax blogs, click here.
The services we deliver are as follows:
- UK Personal Tax Returns
- International Tax Advice for Outbound individuals
- International Tax Advice for Inbound individuals
- UK Capital Gains Tax Returns (CGT)
- Tax Planning
- Tax Minimisation
- UK Self Employed Tax
- UK Buy to Let Landlord (including Non-resident landlords) Advice
- UK Inheritance Tax (IHT) Advice
If you would like to understand more about how we are able to assist you, simply fill in our contact form.
Domiciliation (director, registered office etc)
When a foreign-based business establishes a UK company, there will always be a period until the new company has its own premises and own senior staff in the UK.
We provide not only the registered office but if the client wishes we can arrange for the appointment of a local director.
Even when the entity has its own premises in the UK the client often prefers that we continue to provide the registered office in order to ensure that important mail, often of legal importance, is handled professionally and with the appropriate degree of confidentiality.
Most private limited companies are not legally required to have a ‘company secretary’, but nonetheless The UK Companies Act 2006 sets out a variety of requirements of a company secretarial nature.
Our services cover attending to all shareholder and directors meetings and resolutions without a meeting, keeping of registers such as the shareholder registers and filing all required forms and documents with Companies House.
We have well-developed systems and procedures to faciliate our ervices in this regard.
Relocation of expats
As a consequence of our focus on internationally operating businesses, and especially those based abroad doing business in the UK, and as a result of our close involvement with the incoming employees – with regard to tax matters, visas, registrations with the authorities and the like, it was not a major step to formally offer relocation services.
The services we deliver include assistance in each of the following areas.
Arranging for a temporary, furnished apartment
Bank account opening
Finding a job for the partner or “trailing spouse”
Importing a (used) car
Language courses – recommending, arranging
Obtaining a UK driver’s licence
Preparing a move-in report
Removals – transport
Subscriptions for telephone, internet, TV, Netflix, etc
Tax advice – employer
Tax advice – expat
International tax services
To learn more about our International tax services please click here