Hi everyone,
I plan to start doing consulting work for a US company remotely from the UK. I will be paid on retainer, a flat fee each month, plus a performance-related bonus at the end of the year. I will only have one client at the moment but may take on additional clients once I'm established.
Couple of questions:
- what's the best way to set up to make it as easy as possble to manage my taxes and make sure I pay what I owe?
- how can I minimise my tax liability? I plan to set up a limited company, with myself as the only director, and invoice my client via that company.
- when I find an accountant to work with, what should I be asking them to make sure that they understand the situation and have expertise with these types of issues?
- if I only have one client, but they are in the US, will I run into any IR35 issues?
Thanks for your help everyone, really appreciate it!
Replies (6)
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To make it as easy as possible, I would engage an adviser who will make sure your affairs are managed in a compliant and tax-efficient manner.
If negotiations are advanced, I wouldn't hang about as planning opportunities may already be more difficult than if you had taken advice earlier.
Either get a recommendation or tell them what you want and ask them what their experience is in that field. Speak to more than one and see which sounds most credible.
Hi Andrew,
I found your post googling a similar question I am facing personally.
I just wonder if you found all answers to your question as I am struggling with a similar situation.
I am based in the UK and my employer is US based.
Let me know if you could help
Thanks