GILTI or not GILTI?
- May 17, 2019
- Posted by: Hansen_Sweeney
- Category: News, Tax, US/UK
Do you (part) own your own business in the UK?
Sweeping changes introduced recently by Donald Trump mean that if you are a ‘US person’ with a ‘relevant interest’ in a foreign company, your foreign company’s profits are subject to US tax at a rate of circa 17%. There are additional, onerous reporting requirements too. IRS penalties can be severe for failure to comply with the law, so don’t get caught out — get in touch with one of our tax experts today.