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Anyone with any knowledge of the W-8BEN E US tax form?

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Scoombs

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Mar 5, 2012
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Hertfordshire
I'm wondering if anyone may be able to help. I have to complete a new revised W-8BEN E form for tax withholding and am really struggling with answering Part III - Claim of tax treaty benefits, section B.

My company has 4 directors who own all of the shares, we trade internationally and get regular payments for our software product from a US company. We are fully UK owned and operate from the UK, are a small business with about £500k turnover.

I'm not sure if we are:
  • A company that meets the ownership and base erosion tests
  • A company that meets the derivatives benefits test
I am inclined to choose the latter option as this seems more applicable for EU companies but does anyone have any knowledge of what we may be best to choose? The help sheet has confused me even more.
I have asked my accountant who annoyingly has become quite elusive.

If anyone has any knowledge I would really appreciate it.
Thanks in advance. I will also post this in the International forum as well.

Steve.
 
I have not got all my info to hand today however as a trader I have to fill in a W-BBEN. It would be wrong of me to say I could advise you on this one but I remember the IRS website was very helpful take a quick look see if it's of any use to you.
 
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WaveJumper said:
I have not got all my info to hand today however as a trader I have to fill in a W-BBEN. It would be wrong of me to say I could advise you on this one but I remember the IRS website was very helpful take a quick look see if it's of any use to you.
Click to expand...

Thank you. I've read so many help articles and they seem to confuse me even more. It's about what test my company passes, I think we pass both but it's difficult to fully understand and then select one. Might just take pot luck, 50/50 chance an all that..........
 
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Yes I know what you mean, I think the bottom line is like me, you pay your tax in the UK and that's basically what you need to tell them you and company are not US and you don't pay tax out there.
 
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I fill these out for our clients US suppliers. You should tick parts 14 a and b and then tick A company that meets the ownership and base erosion tests.

Your accountant has probably become elusive because he is not used to these IRS forms.
 
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YourCloudAccountant said:
I fill these out for our clients US suppliers. You should tick parts 14 a and b and then tick A company that meets the ownership and base erosion tests.

Your accountant has probably become elusive because he is not used to these IRS forms.
Click to expand...
Thank you for the information. My accountant is a reasonably sized firm so if they personally didn't know the answer there would be someone there who did. It's more likely that we have just paid our last years bill so the pressure is off for them to offer any kind of a professional service.
 
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