Re: starting a small business in the UK to trade in Europe?

On 31 Aug 2006 14:29:16 -0700, davide.lapin@xxxxxxxxx wrote:

Peter Saxton wrote:

Unless your German and Italian clients wish you to be. Check if they want you to wear a pink suit
with a pizza in one pocket.

8-) still giggling... Best of Usenet?

Would the UK company's
turnover be taxed according to company tax in the UK or would the
revenues pass through untaxed and I would then pay tax on them in the
US?

The former.

OK. Can the US company rebill the UK one for all but say 5% of the
turnover, thus reducing the UK one's booked profits to almost nil?
(The whole purpose of the UK company is to be a pink-suited
pizza-pocketed *reseller*.)

Yes, as long as it's unreasonable, but presumably you work for the US
company and the UK company is using your services.

An alternative is to use a UK accountant.

I reckon I'd better take the hint.

Ta,
-D (who lived for many years in the UK once upon a time and still has
fond memories of real *irony*)

You'd have problems preparing the accounts without an accountant.

--
Peter Saxton from London
peter@xxxxxxxxxxxxxxxxx
.

Relevant Pages

  • RE: Turnover query
    ... I'm having quite the time putting together a turnover query, ... InsuranceNumber (PrimaryKey) ... ChargeID (PrimaryKey) ... Turnover is: (Current month Accounts ...
    (microsoft.public.access.queries)
  • Re: Trading losses brought forward claimed against profits
    ... for these years I've been working out the accounts and filing the ... where the turnover was GBP 1500 and the gross profit GBP 1300. ... put the value into box 4 of the CT600 (Trading losses brought forward ... claimed against profits), so reducing the profits chargeable to ...
    (uk.business.accountancy)
  • Re: starting a small business in the UK to trade in Europe?
    ... 8-) still giggling... ... Best of Usenet? ... turnover be taxed according to company tax in the UK or would the ... turnover, thus reducing the UK one's booked profits to almost nil? ...
    (uk.finance)
  • Re: Sell The Tote off!
    ... If a private company did take over the TOTE, how long would it be before they started claiming they're a private company and have no loyalties to racing but to pay dividends to their shareholders? ... Their official accounts are horrific, apart from turnover, this must be the worst financial position in the history of the Tote taking the size of the market into account. ... It also mentioned a big drop of 2% in attendance in British race meetings last year. ...
    (uk.sport.horseracing)
  • Re: VAT bookkeeping
    ... >>> small company and having a look at the accounts section. ... > companies with a turnover of less than 150K GBP/A. ... > IIRC - the VAT is calculated on a percentage of t/o. ... > aggregation of individual VAT costs are not required. ...
    (uk.comp.os.linux)