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.
- VAT return - Box 7 & 9 Vat cash accounting 12 1
- FRS 102 Fair Value v open market value 92 2
- Taxfiler V's BTC 784 31
- Quickbooks 2015 163 1
- Halloween - do you celebrate it? 323 13
- Sage reporting 91 4
- SA302's anyone?? 2,765 41
- Directors loan accounts 228 6
- Professional Clearance 1,502 23
- Recommendations for payroll/AE software? 319 8
- Expense receipt from previous quarter not included in VAT return 94 2
- Change of director first name on Annual Return 117 2
- BTC Software 250 9
- Allowable expenditure when claiming wear & tear 179 7
- Clearing payments on account/ Sage 50 95 5
- Goods Purchased for Rental 569 30
- Incorporation - any tax advantage? 2,702 25
- Audit procedures on a dormant company 98 1
- Offshore company transferring assets to a UK individual. 231 7
- Completing RP1 form in re Redundancy /Insolvency 221 7
- Nil Rate Band Trust - index linked debt by way of charge over property 1,012
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 520
- NOVA 477
- Bonus Bonds 359
- Insolvency and whistle blowing 344
- Transfer of funds into recently set up company 260
- Payment for Promotional Samples 233
- TPR imposes first penalty notice fines 229
- Friendly Pensions 155
- Box 8 VAT Return - deposit payment 145