CONSULTING ON THE IMPACT OF TAXES AND CURRENCY CONTROL ✅ FINANCIAL SERVICES ✅ SERVICES

Lawyer's actions:

Analyses the client's tax residency;
Studies sources of income, frequency of transactions between countries;
Conducts a basic assessment of possible currency and tax risks in both jurisdictions;
Determines whether the client falls under the legislation on CFCs (controlled foreign companies) in Ukraine.

Lawyer's actions:

Checks currency control restrictions and requirements (transfers, deposits, income confirmation);
Analyses the possibility of transferring funds to/from Ukraine, the obligation to inform the tax authorities;
Explains the rules for declaring and reporting in the United Kingdom (HMRC) and Ukraine;
Prepares recommendations on the optimal structure for the movement of funds (personal and corporate).

Lawyer's actions:

Prepares step-by-step instructions on how to handle funds, which reports to exchange between countries and when;
Provides templates for bank and tax notifications;
If necessary, prepares requests for currency or tax authorities;
Provides a written opinion on the avoidance of double taxation in accordance with the UK-UA Tax Treaty.

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Consulting on the impact of taxes and currency control

Doing business between Ukraine and the United Kingdom opens up new opportunities, but also requires special caution in matters of tax planning and currency regulation. Mistakes in these areas can lead to fines, account blocking, or violations of the currency and tax laws of both countries.

Consultant Law Firm provides comprehensive advice to individuals and legal entities on the impact of tax obligations, tax residency, currency control, reporting and income structuring. We help Ukrainian entrepreneurs and investors to work safely with British partners, open accounts and avoid the risks of double taxation.

Main topics covered by the consultation

Each case is unique, but most often our clients come to us with typical questions about taxation, currency restrictions and legal cross-border activities. Our lawyers help you understand and correctly apply the rules to avoid financial mistakes.

The consultation covers the following issues:

Tax status of an individual: Ukraine or the UK?
What taxes arise when dividends are withdrawn from a UK company to Ukraine?
In what cases is it necessary to report on a controlled foreign company (CFC)?
How to avoid double taxation (according to the UK-UA convention)?
When is it necessary to register a currency transaction with the NBU?
How to legally transfer investments from Ukraine to the UK?

After the consultation, you will receive not general information, but a personalised tax and currency strategy tailored to your business model.

How currency control works in Ukraine when interacting with companies from the UK

When conducting cross-border transactions, Ukrainian residents are faced with the need to comply with currency legislation, including reporting, confirmation of sources of funds and registration of contracts. To avoid delays and misunderstandings with banks or tax authorities, it is worth knowing in advance what documents will be required.

List of key aspects that we explain during the consultation:

Requirements for contracts with foreign partners (what conditions the bank pays attention to).
Verification of currency sources for transactions within the framework of banking compliance.
Deadlines for returning foreign currency proceeds and the consequences of non-compliance.
Possibilities for settlements with non-residents and repatriation of income.
Restrictions on the transfer of dividends and investment abroad.
Currency transactions involving CFCs — how to act without violations.

We do not just advise — we accompany every step of your cross-border activity.

Preparation of documents for banking and tax compliance

Banks and tax authorities in both Ukraine and the United Kingdom pay great attention to the transparency of sources of funds, capital movements and the compliance of transactions with tax legislation. Therefore, it is important not only to know the legal requirements, but also to have a correctly prepared set of documents confirming the legality of transactions.

We help clients put together a complete set of documents suitable for bank monitoring, tax audits or cross-border payments.

This package usually includes:

Contracts with foreign partners (in accordance with currency legislation requirements).
Invoices and certificates of completion.
Documents confirming payment or receipt of funds (SWIFT, bank statements).
Explanation of the source of funds (personal investments, company profits, dividends, etc.).
Confirmation of tax residency (if a certificate of residency in another country is submitted).
Information for declaring CFCs, if applicable to a Ukrainian tax resident.

After consultation, the client receives recommendations on the structure of the documentation, templates and explanations on how to correctly submit documents to the relevant authorities. This allows you to avoid unforeseen blocking of funds or additional charges.

Why clients choose Consultant

Comprehensive approach — we take into account all aspects: taxes, compliance, currency control, residency.

Legal accuracy — experienced lawyers with international tax practice.

International focus — we work with clients from Ukraine, the United Kingdom and EU countries.

Effectiveness — recommendations that really work and reduce the tax burden.

Frequently asked questions about tax and currency control consulting

Question

Can I not declare income from abroad if I am a resident of Ukraine but earn money through a UK company?

Answer

No. If you remain a tax resident of Ukraine, you are required to declare foreign income.

Question

Can I open foreign currency accounts abroad without the permission of the National Bank of Ukraine?

Answer

Yes, but in compliance with currency legislation. Depending on the type of account, you may need to notify the tax authorities.

Question

What are the risks of not declaring CFCs?

Answer

There may be fines, additional tax charges and problems with withdrawing funds.

Question

Does a double taxation agreement really help to reduce taxes?

Answer

Yes, if applied correctly — we analyse how best to use the provisions of this agreement.

Conclusion

Tax and currency planning is the basis for legal and secure business between Ukraine and the United Kingdom. That is why consultations on these issues are not only of legal but also of strategic importance. By contacting Consultant, you will receive not only the necessary information but also a clear picture of how your model works, taking into account tax rates, currency rules, reporting and legal risks.

Reviews

From Real Users

ИЛ

Ирина Лесюк

22.07.2025

Получила очень четкое объяснение, как совмещать деятельность в Великобритании с украинским резидентством. Помогли избежать ошибок с валютными переводами.

МР

Микола Романько

Консультація була детальна, але хотілося б трохи більше прикладів щодо валютного контролю. Проте всі ризики пояснили добре, і я зміг відкоригувати структуру компанії.

ОТ

Олександр Тихонов

Звертався через сумніви щодо оподаткування дивідендів. Отримав конкретні розрахунки, шаблони і зрозумілий план дій. Працювати стало набагато спокійніше.

Daria Voloshyna

The questions concerned tax residency and the transfer of profits from the UK to Ukraine. The consultant explained everything — even things I hadn't thought of. Very professional.

ІК

Ігор Костів

Було складно зняти кошти без блокування в банку. Отримав консультацію, підготували всі документи — і зняв без питань. Мінус зірка тільки за те, що чекали день на призначення дзвінка.

ЛГ

Леся Гнатенко

Дізналась усе про валютні обмеження для резидентів і як краще планувати виплати з-за кордону. Все пояснили просто, доступно. Рекомендую тим, хто боїться податкових непорозумінь.