UK Company trading globally
Shareholders One UK National 50% : One Australian 50%
Company provides IT services around the globe
1. Remuneration ' it is proposed to pay salaries in uk.
UK director seems straightforward but what if he is absent for more than a tax year.
What is the Australian's tax situation if he does/ doesn't visit UK?
2.Expenses ' what is the situation regarding expenses while outside the UK?
It has been suggested that a tax-free allowance of £60 per Diem had been agreed when in a previous employment. Is this just a matter of negotiation with local tax office?
There will inevitably be a lot of airfares / hotel accommodation / subsistence as the business is carried out in short assignments around the world.
3. VAT ' presumably any input tax paid in UK eg on leased computer equipment etc can be reclaimed.
What about output tax.
Any other complications?
I am clearly going through the reference books and don't expect all the answers on a plate but any info / warnings would be very much appreciated.
- Cash basis 435 12
- Retail vat schemes for a restaurant 124 1
- Rental Property W&T And Equipment 255 1
- Legislation access for part-time sole practitioner? 278 1
- Ownership of land - declaration of trust 145 3
- Fee base v staff ratio 286 6
- Ltd Company Buying Own Shares and Transferring Assets 148 2
- NIC thresholds - two employments 1,837 27
- Statutory Accounts - Dividends Disclosure Note 316 3
- Unincorporated organistion ceasing to exist 222 2
- Gift in kind to charity by company: services 79 1
- Investor exit 186 3
- Partially exempt? 362 10
- Debtor/creditor set-off 133 1
- Redundancy payment added to p45 397 3
- Undeclared rental income 2,246 22
- CIMA accountant wants to start consultancy 376 4
- Statutory sick pay 245 3
- Overseas bank interest 227 5
- Contractor accommodation expenses 170 1
- Skandia using wrong address 559
- FHL, period of grace and Entrepreneur's relief 303
- Does anyone use PS Financials accounting software out there? 300
- Employee rewards 283
- Gift of reversion and lease into trust by two different people - later PPR 237
- EPS Analysis - Change to EURO 221
- Etax Australian 181
- LLP in Construction Industry 146
- Selling On Amazon & Calculatign Prices/Vat 127
- Interest and late payment charges HMRC 125