Tax Mitigation Jurisdictions

SYNOPSIS: The UK Limited Liability Partnership Act of 2000, introduced the concept of a Limited Liability Partnership (LLP) into UK law. The primary purpose was to afford limited liability to professional firms such as solicitors and accountants hitherto prevented from establishing an ordinary limited liability company due to their respective professional bodies' restrictions. However, despite the relatively narrow original function of the legislation, LLP's have found favour with a much larger audience than expected. In particular, it was found that LLPs could be set up in such a way that they could be administrated outside of the UK and, in effect, potentially transferring their tax obligations outside of the UK to a tax free or low tax jurisdiction. One of the greatest unexpected advantages was that a UK non-resident LLP could apply for a British VAT number in the Isle of Man but without being subject to UK corporate taxes. The SCF Group has the capacity to establish both a Manx VAT number for a non-resident LLP together with full management and control facilities in a number of fiscally advantageous jurisdictions.