Recent content by Bart_LBS

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    Basic PAYE tool and Director's salary in a different currency

    So I'm receiving all my client payments to my Revolut Business account in USD... For the last couple of years I exchanged my director salary to GBP first then reported it through the Basic Paye Tools RTI. Since I now live abroad I lose some $$$ every month on double conversion, first USD -> GBP...
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    Representative Office expenses - how to book

    Recently I registered a representative office of my UK limited company in China, mainly in order for my business partner to be able to get a work visa and stay in China full time. The rep office is basically just one person, it is legally registered in China, its purpose is to search for new...
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    Foreign Representative Office of a UK Ltd

    I run a small marketing and PR agency (UK limited company). All of our clients are companies from Asia (China, Hong Kong). We used to travel to Asia a lot to meet with clients, attend exhibitions etc. but now due to Covid it's been very difficult so my partner decided to move to China full...
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    A tax auditor or advisor needed to audit a small LTD and prepare for VAT registration

    I have a small LTD company providing marketing services online (all clients are from outside the EU). Until now we have not been VAT registered but I'd like to register for VAT and expend the business. I need an experienced tax auditor to check our company accounts and assess if we're doing...
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    How to get a notarised power of attorney in the COVID times?

    We run a small marketing agency under a UK-registered limited company (2 shareholders and 2 directors). One of the company owners and directors is based in China where we'd like to register a representative office in order for him to get a residence permit and working visa. We were asked to...
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    Someone to help prepare a freelancer contract

    I have a small marketing agency with clients mainly in Asia and America, I operate an an LTD registered in Scotland. I outsource a big chunk of my work to freelancers located all over the world (Philippines, Brazil, Russia, Germany, Japan). I ask those freelancers to invoice me at the end of the...
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    VAT registration for mostly non-EU business - tax questions

    Hi All, 100% of my business is online services (digital marketing) for clients from outside the EU, 80% of my expenses are also from outside of EU and only about 20% are from within EU. All of my expenses are invoices from freelancers from other countries where I do local marketing services...
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    VAT for Facebook Ads if company not VAT-registered

    Hi all, I'm running a non-VAT registered UK limited company. This month 2 of my clients asked me to run Facebook Ads for them and then invoice the Ads spendings with a profit margin. After signing up for an Ads account on FB, it asks me for filling in VAT information, does it mean I should...
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    How to report past director payments under 116GBP in PAYE?

    Thanks for the advice! Should I still report it to HMRC @Scalloway? Say, supposing I paid myself around 25 weeks * 116GBP = 2900GBP without reporting it to HMRC, I simply report it under one future payment (eg. tomorrow) of 2900GBP and send to RTI through HMRC's PAYE tool?
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    How to report past director payments under 116GBP in PAYE?

    I incorporated an LTD last summer, ever since I have been paying myself a very low director's salary. Since the salary has always been under the 116GBP weekly threshold I was not required to register for PAYE, the only thing I did was to tag the payment as Director's Salary in my bookkeeping...
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    Providing services to a non(yet)existing company

    I'm not VAT registered. We haven't spoken details yet but we could of course sign a contract, again I am not worried about payment, just need to make sure I can claim expenses today for the services I'm providing to a company that will be registered in a few months, invoice will also be issued...
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    Providing services to a non(yet)existing company

    My friend is planning to register a company in a few months. Before doing so, he’d like to hire me to do a bunch of services for him (logo, web design, legal planning, strategy etc.). He would only be able to pay me after a few months when the company is registered and running (and I trust him...
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    How to keep single currency accounting but get paid in other currencies from time to time

    @Scalloway thanks for this information, it's exactly what I needed. Then I'll just have them transfer it to the company account then exchange manually to GBP. That way, the USD/EUR/CHF account balance will always be 0 and hence I will not need to include it in my accounts, am I thinking correct...
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    How to keep single currency accounting but get paid in other currencies from time to time

    @Scalloway The bank account I'm using is a multi-currency account. That is, If someone transfers USD to it It will appear on a USD account ( I have one IBAN number that can be used for several currencies). Another option is, I receive 5000USD from a client to the USD account and immediatelly...
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    How to keep single currency accounting but get paid in other currencies from time to time

    I just incorporated an LTD company last month. To make things simple, I'd like to keep my company's accounting single currency with only one bank account in GBP. However, from time to time I do get paid in other currencies (USD or EUR). Can I ask my customer to pay me into my personal account...
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