Ticker tape by TradingView
Uk Ltd and non eu/usa residence, how to do the accounting and taxing
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ok so they reject me
see the reply..
We’ve reviewed your application for a Business Current Account and we’re sorry but we won’t be able to take it any further.
We considered the information you gave to us and completed our standard checks and assessments. We also reviewed the bank’s knowledge about the sector in which your business operates.
If we have concerns over a sector’s future, or believe it could expose us to financial risk, we may choose not to offer banking facilities. Unfortunately, this is︀ the case here
As a result you’ll need to make alternative banking arrangements for your︁ business. There isn’t an opportunity to appeal this decision.
so guys any solution =D or︂ I just need to give up from the UK and see a way to close︃ the company and find another easy place with less complexity
see the reply..
We’ve reviewed your application for a Business Current Account and we’re sorry but we won’t be able to take it any further.
We considered the information you gave to us and completed our standard checks and assessments. We also reviewed the bank’s knowledge about the sector in which your business operates.
If we have concerns over a sector’s future, or believe it could expose us to financial risk, we may choose not to offer banking facilities. Unfortunately, this is︀ the case here
As a result you’ll need to make alternative banking arrangements for your︁ business. There isn’t an opportunity to appeal this decision.
so guys any solution =D or︂ I just need to give up from the UK and see a way to close︃ the company and find another easy place with less complexity
You could just transfer all the money from the account as a salary every month to your UAE personal account, which would be taxed at 0% since you are resident in UAE.
So at the end of the year you have no profits since its all paid out as salary = zero taxes.
So at the end of the year you have no profits since its all paid out as salary = zero taxes.
hmmm interesting idea, I was thinking that even paying salary as a director I need to pay taxes on them before.
one more point that all the money is actually going to TW and from their being paid for different accounts and goes to crypto, so basically︀ non of my accounts has money
one more point that all the money is actually going to TW and from their being paid for different accounts and goes to crypto, so basically︀ non of my accounts has money
Salary for non-residents are non tax as long as you dont conduct business from UK.
Only corporate tax are taxed which means that as long as you pay out all the money as salary and has no money on the account at the end of the year,︀ there is nothing to tax.
Just book all withdrawals as salary.
Only corporate tax are taxed which means that as long as you pay out all the money as salary and has no money on the account at the end of the year,︀ there is nothing to tax.
Just book all withdrawals as salary.
Just check with an accountant if there are any restrictions on this. Taking out 100% of the profits all the time may not be allowed under transfer pricing rules. But then again, it’s not clear if anyone will ever care if we’re not talking millions.
You might also want to check if the UAE allows you to take that salary under their own worker laws. After all, you would be a UAE employee, but presumably your “employer” wouldn’t have a applied for a worker visa. It might be better to invoice the company from︀ the UAE. But then transfer pricing rules would definitely apply.
You might also want to check if the UAE allows you to take that salary under their own worker laws. After all, you would be a UAE employee, but presumably your “employer” wouldn’t have a applied for a worker visa. It might be better to invoice the company from︀ the UAE. But then transfer pricing rules would definitely apply.
As per the bank when i talk to them if i︁ do have work as salary or freelance they don't mind, as along as i dont︂ do any business activities, beside that i can send the money to my other Sepa︃ personal accounts which is not taxable like paysera or transferwise or I can do it︄ as crypto payment, but I need to be sure that no issue in gov at︅ least if I can consider 50% as salary or 70%
For me i just have︆ 2 3 clients in UK who pay me around 300 or 250$ in last year︇ lol
For me i just have︆ 2 3 clients in UK who pay me around 300 or 250$ in last year︇ lol
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