Recent content by madrilian

  1. M

    Breaking News, First Sale Made

    Well done ! My e-commerce site took two years to get its feet off the ground ... Keep up the good work.
  2. M

    pay tax on paypal sale

    Who do you sell the dresses to ? If your customers are outside the EU, that does not count as Vatable turnover.
  3. M

    Paypal Multiple Currencies and Book keeping - How??

    The VAT element of a transaction CANNOT be accounted at the rate of exchange rate set by paypal. Paypal exchange rates are not "real" as they include a hidden commision set at 2.5% You cannot just take a sale of 12USD, and put it in your accounting as whatever value is converted in GBP. Even...
  4. M

    Multi currency credit card processor

    What's currency conversion fee can you offer ?
  5. M

    Multi currency credit card processor

    Paypal can only handle a very reduced set of currencies, and although their list of currencies has been extended recently, still does not cover my needs. I trade with companies in countries such as Argentina, Peru, Colombia, Philippines, Malaysia, and I offer them my services priced in their...
  6. M

    Who can sign the board meetings ?

    Ok, thanks for clarifying the situation. I talked about phone "meetings", because even though I am the sole director, now I want the secretary to be aware of decisions taken, and write the minutes herself, so pretty much it is a matter of having a telephone or video call and tell her what I...
  7. M

    E-Commerce business sale valuation- how much?

    Admit it ... your business just now is not profitable. The profits do not substract the cost of the work involved. If that would taken into account, there would be no profits, as £40K is aprox. the cost of a worker who is able to run a business on its own. You are not selling a business. You...
  8. M

    Multi currency credit card processor

    I run a website where 99% of my customers are from abroad. The services I sell are usually priced in the currency of my customer, as I have specific services depending on the coutry where the customer comes from. I have been using Worldpay for 10 years now, but I am really fed up with...
  9. M

    Tax Domicile of a non-UK resident Sole Director

    If you were asking about personal taxation, dividends from a UK company will be exempt of UK taxation and the 10% tax credit might be set against the tax liability in your country of residence (depending on treaties). But if the company is considered resident in Italy, it might have to pay...
  10. M

    Tax Domicile of a non-UK resident Sole Director

    I think you can do it. A company is usually tax resident in the place where is managed and controlled, and if incorporated in the UK, is also resident there. But Double tax treaties between Italy and UK allow for it to be resident only in the country where is managed and controlled...
  11. M

    Who can sign the board meetings ?

    I own a 90% shareholding of a UK ltd. company and I am the sole director. The other shareholder, is soon going to be appointed "company secretary". I travel a lot, and work remotely with my personal computer. Sometimes I am abroad for months. Until now, I used to write company...
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