Results 1 to 10 of 10
  1. #1
    Join Date
    Jun 2001
    Location
    Cheltenham
    Posts
    2,617

    Company formation et all

    Hi All,

    I have found myself in a situation that is both good and bad depending on how much of a positive chap (et) you are, being of a possitive nature, i am going for the former

    I used to run a uk LTD company with a long standing friend, anyway, he got devorced and somewhat went of the rails resulting in the easiest thing to do to preserve the business being disolving the company and give him his share.

    It is now temporarily runing as a sole trader with me assuming i would just reform, as i have the right to the name etc.

    It raises an interesting question though. Should i just form another company, or, as this is an international business, look to form somewhere else (country) that may be more tax advantagous?

    I thought i would ask, as you lot know your stuff, and somebody else here may be in a similar position, or been in the past.

    My real questions mainly revolve around:
    • How to charge customers tax?
    • what my tax position is as a uk resident?
    • Would (who) would i have to charge VAT to?


    Any thoughts, opinions, and the like gratefully appriciated

  2. #2
    Join Date
    Oct 2006
    Location
    uk
    Posts
    448
    You probably should see a qualified accountant they will be able to answer all your questions. If you choose a local and independant one they will not be too expensive.
    Last edited by doc_flabby; 11-06-2006 at 05:58 AM.

  3. #3
    Join Date
    Jun 2001
    Location
    Cheltenham
    Posts
    2,617
    i have an accountant but i suspect his knowledge is somewhat limited as all he ever says is to form a ltd!

  4. #4
    Join Date
    Feb 2004
    Location
    Southern California
    Posts
    749

  5. #5
    Join Date
    Oct 2005
    Location
    Widnes, England
    Posts
    593
    How to charge customers tax?
    It all depends on the country your users are from

    what my tax position is as a uk resident?
    As a sole trader you have to pay income tax. As a limited company / public company you have to pay Corporation tax (higher than income tax)

    Would (who) would i have to charge VAT to?
    Same as one, and by the way, your accountant is correct. Limited companies provide a much safer route in terms of liability and investment, even though it costs a bit more than being a sole trader.
    Sean

  6. #6
    Join Date
    Jun 2001
    Location
    Cheltenham
    Posts
    2,617
    are there any advantages in forming overseas?

  7. #7
    Join Date
    Oct 2005
    Location
    Widnes, England
    Posts
    593
    Suppose it would all depend on the taxes you have to pay, but I doubt you could be a sole trader in the US unless you lived there.

    You'd really have to check that one.
    Sean

  8. #8
    Join Date
    Jun 2001
    Location
    Cheltenham
    Posts
    2,617
    what relavence does a web host (with a dodgy geotrust site seal) have to any of the above issues?

  9. #9
    Join Date
    Jun 2001
    Location
    Cheltenham
    Posts
    2,617
    the above was from when somebody was spaming this thread incase it make s no sense

  10. #10
    Join Date
    Jun 2001
    Location
    Cheltenham
    Posts
    2,617
    Quote Originally Posted by Kemik
    Suppose it would all depend on the taxes you have to pay, but I doubt you could be a sole trader in the US unless you lived there.

    You'd really have to check that one.
    You can apparantly, in Delaware no less

    Need to find myself a clever accountant i think. Now, out with the yellow pages..

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •