United Kingdom

Sheltons United Kingdom

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.

Bookkeeping

Bookkeeping

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.

Accounting

Accounting

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

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

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

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)
  • etc

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.

Compliance

Compliance
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

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 consolidation

Tax efficient financing

The application of anti-avoidance rules

Thin capitalisation rules

Transfer pricing

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

Residency issues

Salary packaging

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

VAT advice

Disputes with the tax authorities

Eligibility for registration

VAT issues generally

Non-residents’ liability

See also under International tax

 

Entity set-up and management

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.

 




 

 

 

 

 

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.

 

Company secretarial

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.

Accommodation

Arranging for a temporary, furnished apartment

Bank account opening

Connecting utilities

Culture familiarisation

Financial planning

Finding a job for the partner or “trailing spouse”

Importing a (used) car

Insurance matters

Language courses – recommending, arranging

Moving-out services

Obtaining a UK driver’s licence

Other registrations

Payroll administration

Preparing a move-in report

Public transport

Removals – transport

Schools

Shopping

Socialising

Subscriptions for telephone, internet, TV, Netflix, etc

Tax advice – employer

Tax advice – expat

Tax registration

Visas

 

International tax services

To learn more about our International tax services please click here