Offshore Company

sjkr
sjkr Feels At HomeMAAT, AAT Licensed Accountant Posts: 74 💫 🐯 💫
Hi all,
One of my clients is thinking about setting up an offshore company in the Seychelles, which will process credit card payments for an online pharmaceutical company in India. He will then invoice the Seychelles company for 10% commission on the payments received into the Seychelles company. He will declare the 10% commission as income through his VAT registered UK ltd company. He has asked me if this is all legal.
Can anyone see anything obviously illegal here?
Thank you
RyanMIP

Comments

  • Norvydas
    Norvydas DevonMAAT Posts: 269
    @sjkr

    Have you tried contacting HMRC helpline? I think this will be best option.
    Kind Regards,

    Norvydas Valavicius.
    RyanMIPsjkr
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