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ACCOUNTS advice needed please

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ACCOUNTS advice needed please

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Old Sep 14th 2005 | 10:41 pm
  #1  
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Default ACCOUNTS advice needed please

Hi Wonder if anyone could help,

I have recently emigrated over here from the UK. I had a Ltd business (one man band illustrator) in the UK and an accountant to deal with all the boring stuff. Over here I am still working for some of my British clients via the internet/email and I have seen an Oz accountant to help sort out my accounts relating to any Oz work but am unsure what I need to do regarding my British work, has anyone else been in this situation? DO I need to keep my British account on and pay tax through the UK??? ANY ADVICE is much appreciated this stuff does my head in
 
Old Sep 14th 2005 | 10:45 pm
  #2  
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Default Re: ACCOUNTS advice needed please

Originally Posted by rachandjon
Hi Wonder if anyone could help,

I have recently emigrated over here from the UK. I had a Ltd business (one man band illustrator) in the UK and an accountant to deal with all the boring stuff. Over here I am still working for some of my British clients via the internet/email and I have seen an Oz accountant to help sort out my accounts relating to any Oz work but am unsure what I need to do regarding my British work, has anyone else been in this situation? DO I need to keep my British account on and pay tax through the UK??? ANY ADVICE is much appreciated this stuff does my head in
If you are doing work, for a british tax paying citizen, then you mus pay tax in the country of monetary origin.

Bugger huh
 
Old Sep 16th 2005 | 2:17 am
  #3  
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Default Re: ACCOUNTS advice needed please

Actually - not necessarily so. If the work is being paid by a UK company for duties performed outside the UK (eg in Australia) I think you'll find there should be an adjustment to the UK PAYE Coding to reflect the fact that some/all of the earnings are not taxable in the UK.

The enquirer's UK accountant should be able to advise on this.

Alternatively the enquirer should consider engaging a firm of accountants that has knowledge of both Aussie and UK tax => why is s/he maintaining a UK company when this is likely to give rise to ongoing compliance obligations in the UK and in Australia?

It could be a whole lot easier and cheaper in the medium term to close down the UK company (which probably now also has an obligation to lodge accounts in Australia - the company's tax residency will probably follow the enquirer's personal tax residency because it is managed and controlled by him/her) and to operate solely through a new Aussie Pty limited company, perhaps owned by a family trust (depending on profitability, etc).

Best regards.



Originally Posted by Timber Floor Au
If you are doing work, for a british tax paying citizen, then you mus pay tax in the country of monetary origin.

Bugger huh
 

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