Yes it is, and there's nothing (in the UK) that would stop you from never touching the UK, so you could set up your Italian bank accounts and run everything fro

Yes it is, and there's nothing (in the UK) that would stop you from never touching the UK, so you could set up your Italian bank accounts and run everything from Italy. I'd look to use a Commercialista that understands UK finances though rather than a UK accountant that understands Italian banking. That's where you'll see the problems arise.