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Sir if a company is based overseas, but its directors are britishers and monthly & interim meetings are held overseas, so then is the company liable to pay CT in UK or not?
@Noah098 i think you are mistaken. As far as control and management is concerned, the domicile of the directors is irrelevant. Control and management basically refers to where the directors meet and make decisions, in other words where the AGM is held. So in case of your question, the company is non-resident in UK as it is one, not incorporated in UK, two, it is centrally managed and controlled(monthly & interim meetings ) overseas. These factors together make the company non-resident in UK.
Firstly Noah – please do not remind me a matter of hours after posing a question that I have not responded – we do this in our spare time and a question will be answered when I am able to find that time.
Re your question – the word “based” is meaningless for tax – as I have said before a company will be UK resident and chargeable to UK CT on its worldwide profits if it is either incorporated in the UK or it is centrally managed and controlled from the UK – this is exercised by the board of directors at board meetings so if all such meetings are held overseas it is very likely that although they otherwise live in the UK that the company will be treated as non UK resident
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