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Paying freelancers in crypto: accounting compliance
Thanks for the clarification! All our company operations are conducted in EUR, and the only subcontractor from a currently unpopular country wants to be paid in crypto. I have a part-time accountant whose only role is to file the annual report based on the bank statements (for £1,500 a year)...- 2125432
- Post #5
- Forum: Tax, Accounting, Licensing & Legal
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Paying freelancers in crypto: accounting compliance
Thanks your answer! Just to clarify””if I buy crypto and pay the contractor with it, would that count as a business expense? Right now, we don't have any crypto, so we need Nexo just to buy it. Does this setup still make sense for accounting?- 2125432
- Post #3
- Forum: Tax, Accounting, Licensing & Legal
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Paying freelancers in crypto: accounting compliance
Hi everyone! I'm looking how to set up a compliant crypto payment process for a freelancer with regular payments. My company is a non-resident LLP in UK with a Nexo account, and I want to ensure everything is done correctly from an accounting side. The freelancer is open to receiving...- 2125432
- Thread
- Replies: 6
- Forum: Tax, Accounting, Licensing & Legal
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Advice Needed on Registering a UK LLP for Remote IT Business While Residing in Cyprus
@Sols Thank you for the response! I understand that the income from the LLP would be treated as personal income, not dividends. my initial message was unclear I think. I want to clarify that while the projected turnover is around €60k, the distributable profit after deducting expenses like...- 2125432
- Post #3
- Forum: Tax, Accounting, Licensing & Legal
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Advice Needed on Registering a UK LLP for Remote IT Business While Residing in Cyprus
Hi everyone, I'm a Cyprus resident operating a fully legal remote IT business. I have a consistent need to issue monthly invoices to clients in Germany and Italy for my B2B services, with an annual turnover of around €60,000. I'm considering registering an LLP in the UK due to the lower...- 2125432
- Thread
- Replies: 2
- Forum: Tax, Accounting, Licensing & Legal