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.
- Great Service 1,178 16
- Keytime 188 2
- About your hairdresser clients 378 15
- Income £10k salary and £20k net dividends 403 16
- PAYE & NIC 701 32
- £NIL EPS's wiping out CIS deductions 262 4
- When was the requirement for Ltd. company to have at least two shareholders abolished? 121 5
- HMRC's "HVA" list .... High Volume Agents 712 9
- Sports Club and Partial Exemption for VAT 179 1
- HMRC debt collectors 193 3
- Selling Fees 342 6
- Getting a business loan with a personal default 216 7
- Bright Pay 119 1
- Can an EPS be resent? 124 3
- Can't vote dividends due to minority shareholder 512 11
- Ouch. Those penalties sting 2,462 27
- Entrepreneurs relief 124 1
- WIP valuation at year end 311 6
- New Company formation - how to account for share capital vs directors loans 129 3
- Nine-Page Engagement Letters 698 12
- Sanzar 523
- Digital marketing focus group 410
- Sainsbury's mangement 374
- Are commercial mortgage cashbacks subject to Corporation Tax ? 370
- Avanti Accounts 352
- Continuity Agreement 350
- Buyback 304
- Entrepreneurs' relief (ER) for EMI shares 251
- Aggresive sales from Iris 241
- Charity volunteers and mileage 202