Guido

My wife and I moved to Italy from the UK, and obtained Italian residency on 30/10/2023 and on 20/12/2023, respectively. HMRC sent us letters confirming neither of us has to file a self-assessment any longer. We are no more registered. However, I was wondering how we should treat bank interest, and there are two cases to consider here. We still have some cash ISAs and normal bank accounts in the UK, and they all will remain open. Should we only pay taxes to the UK on the interest earned until 29/10/2023 and 19/12/2023 (i.e. the day before each lost their UK residency status), respectively? Or, should we keep paying taxes to the UK? If so, how to do that for the personal bank accounts? On the other hand I am aware cash isas taxes are paid at source, therefore it seems like we are already paying taxes to the UK for cash isas. Are such taxes still due to the UK even though we moved overseas? If not, what should we do to pay them to the Italian revenue&custom? Santander bank - where my wife and I hold three personal current accounts - claims that if the money deposited is not transferred to Italy, we will pay tax on the interest in the UK and not in Italy. However, as mentioned above, we are no longer registered as self-employed in the UK and are no longer UK-resident. And as far as I know, the self-assessment is the only way to be taxed by HMRC for interest earned on personal bank accounts. But maybe our bank have already communicated to the HMRC about our new tax and residence status. Could you, please, confirm if that is the case, and what should we declare and where?

Furthermore, should I opt for passing the LTD to my wife: 1. by chance, will that cause the company to lose its dormant status for the HMRC? 2. does the HMRC expects us to follow any specific procedure? Thanks again.

In the meantime, to make things easier, I was thinking of resigning as director, secretary, and the only shareholder of my LTD and pass the LTD to my wife, who also is not a UK-resident like me. Is it possible for the HMRC to pass an LTD to a non-UK resident? Would there be any clash with the UK laws if the name of my business in Italy would be the same as that of the LTD belonging to my wife? Please, let me know your answer to this and the previous question posted in July 2023. Thanks

I have an LTD incorporated in the UK and I intend to manage it from Italy (as an Italian resident). If my LTD provides services both to the UK and to Italian clients, will the tax be due to both countries (to the UK whenever services are provided there and to Italy whenever in Italy), right? Services might also be provided remotely in each case. Consider that at the moment I am the sole director, secretary, PSC and shareholder, and that the company is dormant. But in the future it may start trading and I could appoint other directors or secretaires and some of them might be UK-resident. Would that be relevant towards which country taxes are due? Also, in Italy I will not have any fixed place of business (e.g. an office, unless I decide to provide my services also remotely) but rather I will travel to the clients. I have read the international manual ( https://www.gov.uk/hmrc-internal-manuals/international-manual/intm120200 ) but I could not apply it to my particular circumstances.

Will I have to register myself with HMRC, or just the LTD once it starts trading through me? I am its only PSC.

I have filed an annual account for my dormant company this year. Do I have to file another annual account if I do one or more of the following: - change a PSC's address - change the registered office address - add a SAIL address? If so, when should I file it?

I could use another name for the Italian company and still provide my service (which has the same name as the dormant LTD). I hope that is not a problem or cause the LTD to lose its dormant status.

Thanks for your reply. The entity to be registered in Italy would be a one-person-firm (p.iva) and the SIC would be the same as the LTD.

Many thanks

Many thanks