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Hi everyone, I'm new to this forum and have a quick question I need some advice on, and will then need a qualified accountant to take on our company accounts.
We have a Ltd company in UK with two directors (50/50). One is resident in Italy and myself in the UK. When we pay our first years annual tax bill, can we run the italian directors dividends through the company as 'consultancy fees'?
If so would he then be liable in Italy? Also what is the general process with this kind of setup, as I only have experience of personal income tax in the UK.
Appreciate any advice!
We have a Ltd company in UK with two directors (50/50). One is resident in Italy and myself in the UK. When we pay our first years annual tax bill, can we run the italian directors dividends through the company as 'consultancy fees'?
If so would he then be liable in Italy? Also what is the general process with this kind of setup, as I only have experience of personal income tax in the UK.
Appreciate any advice!