Since you are tax resident in the UK, you should declare all overseas income as well. You won´t be taxed twice you just need to declare it, if it is already taxed then either they credit the tax paid and you pay the difference or you are exempt.
Whether you invoice or transfer your funds to the Ltd won´t change the fact that it is taxable. Obviously if you invoice you have to think about VAT.
It isn´t simple and I would take advice from an accountant.
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Previously on "UK Ltd charging overseas self-employment ?"
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Originally posted by BlasterBates View PostIf you are actually doing the work in te UK then even if you invoice overseas, then it should be taxed in the UK. Any taxes paid overseas will be taken into account, so you don´t end up paying tax twice, it will be credited.
Is the "invoice" the only document that creates taxable gain?Last edited by archery; 15 January 2013, 22:52.
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If you are actually doing the work in te UK then even if you invoice overseas, then it should be taxed in the UK. Any taxes paid overseas will be taken into account, so you don´t end up paying tax twice, it will be credited.
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Originally posted by archery View PostIs it legal for UK Ltd company (with me being its director/employee) to invoice and get money transferred from my own overseas self-employment?
As you say, it's probably more tax efficient to use a UK LTD but watch out for IR35.
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UK Ltd charging overseas self-employment ?
Hi, I have overseas (EU country) self-employment registered and with active contracts, but from some time (2 years) I am UK resident and do all my work from UK.
So far I was doing taxes overseas and then self-assessment in UK (as foreign income with double-taxation rules, etc.).
Recently tax adviser told me I could open UK Ltd company and invoice my overseas self-employment, so that all income from my overseas self-employment would go to UK Ltd company (generating profit in UK), while my overseas self-employment would come to net zero (so I would not be taxed there).
I would be doing it to make my life a little easier, and of course to save on taxes/etc.(because rules for UK Ltd companies are much more tax efficient than what I was doing so far).
Please tell me... Is it legal for UK Ltd company (with me being its director/employee) to invoice and get money transferred from my own overseas self-employment?
And let's forget about overseas taxes - I will deal with them on my own, it is not a concern to me. But will it be legal from UK standpoint?
Thank you for any feedback.Tags: None
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