Hello everyone, my first time posting a question here. I've had many of my questions answered after days of reading through this forum and am really grateful to have found it!
I do have a question, though, that is a bit more specific (looking for any suggestions, personal opinions) and pretty dumb as well so apologizing in advance
I'm an EU national and have resided in the UK for years (no UK nationality though). I left the UK and my full time employment 2 years ago to return to my home country and since I'm super irresponsible (mostly lazy about these things) I didn't notify HMRC of leaving (different sites state differently so I am not sure whether I had to do it or not if the tax returns aren't an issue and if I wasn't self-employed). I re-registered in my home EU country as a tax resident again as soon as I arrived anyways.
But the issue is that I have had a UK LTD for years now which I am the director and the sole shareholder of. It has never traded and has been dormant from the start, but I opened it when I was a UK resident and I am still noted as a UK resident which I haven't changed yet (I know, I know...).
My questions are:
1. Should I send off the form to advise that I left the UK even if it is 2 years later and risk a penalty and potential complications? Or should I simply dissolve the dormant LTD asap without messing about with changing my residency?
2. I am looking at setting up a business for which the best solution I came accross would be a UK LLP as a non-UK resident (at least it would have been if I hadn't created this mess) - I'd first need to advise HMRC of being a non-resident but worry about getting into trouble for doing it late (as an existing LTD director). I was thinking instead of potentially dissolving the LTD, waiting the 3 months for it to be struck off and to then set up a UK LLP as a non UK resident (without any advising that I no longer am) - do you think this could be okay (also because of the next point)?
3. I also have UK bank accounts which still have me as a UK resident with a UK address which I wouldn't want to be closed - as far as I understand HMRC isn't automatically going through these unless they have a reason to check into them and banks would report to HMRC if I advised them I am now a non-UK resident. But I wonder if I set up an LLP with myself as a non-UK resident whether this info would get from HMRC to the banks?
4. Do you think it would be best to simply close the LTD and not open an LLP in the UK at all and instead look at other countries to incorporate so as to not "rock the boat" with the UK?
Thanking you all in advance for any potential suggestions!
I do have a question, though, that is a bit more specific (looking for any suggestions, personal opinions) and pretty dumb as well so apologizing in advance
I'm an EU national and have resided in the UK for years (no UK nationality though). I left the UK and my full time employment 2 years ago to return to my home country and since I'm super irresponsible (mostly lazy about these things) I didn't notify HMRC of leaving (different sites state differently so I am not sure whether I had to do it or not if the tax returns aren't an issue and if I wasn't self-employed). I re-registered in my home EU country as a tax resident again as soon as I arrived anyways.
But the issue is that I have had a UK LTD for years now which I am the director and the sole shareholder of. It has never traded and has been dormant from the start, but I opened it when I was a UK resident and I am still noted as a UK resident which I haven't changed yet (I know, I know...).
My questions are:
1. Should I send off the form to advise that I left the UK even if it is 2 years later and risk a penalty and potential complications? Or should I simply dissolve the dormant LTD asap without messing about with changing my residency?
2. I am looking at setting up a business for which the best solution I came accross would be a UK LLP as a non-UK resident (at least it would have been if I hadn't created this mess) - I'd first need to advise HMRC of being a non-resident but worry about getting into trouble for doing it late (as an existing LTD director). I was thinking instead of potentially dissolving the LTD, waiting the 3 months for it to be struck off and to then set up a UK LLP as a non UK resident (without any advising that I no longer am) - do you think this could be okay (also because of the next point)?
3. I also have UK bank accounts which still have me as a UK resident with a UK address which I wouldn't want to be closed - as far as I understand HMRC isn't automatically going through these unless they have a reason to check into them and banks would report to HMRC if I advised them I am now a non-UK resident. But I wonder if I set up an LLP with myself as a non-UK resident whether this info would get from HMRC to the banks?
4. Do you think it would be best to simply close the LTD and not open an LLP in the UK at all and instead look at other countries to incorporate so as to not "rock the boat" with the UK?
Thanking you all in advance for any potential suggestions!
