Running a internet business from Uk but living in oz
Aug 16th 2007, 1:33 am
#1
Forum Regular
Thread Starter
Joined: Oct 2004
Posts: 174
Running a internet business from Uk but living in oz
HI
i have thought of a internet business idea that i would like to do from the uk, but i live in oz, does anyone know how this would work with tax etc, would i have to pay it in both countries, i have choose the uk as i know all about what i would be doing as i have done this already in the uk, and there is already something similar running in oz, any advice on this would be great
thankyou
i have thought of a internet business idea that i would like to do from the uk, but i live in oz, does anyone know how this would work with tax etc, would i have to pay it in both countries, i have choose the uk as i know all about what i would be doing as i have done this already in the uk, and there is already something similar running in oz, any advice on this would be great
thankyou
Aug 16th 2007, 5:05 am
#2
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Joined: Oct 2004
Posts: 174
Re: Running a internet business from Uk but living in oz
Can anyone answer this one please
Aug 16th 2007, 5:08 am
#3
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Joined: Aug 2006
Location: Brighton QLD
Posts: 2,460
Re: Running a internet business from Uk but living in oz
No your won't be taxed twice.
I think you would have to charge the UK VAT, but any profits you make would be taxed in Oz as thats where the company is run from.
I think you would have to charge the UK VAT, but any profits you make would be taxed in Oz as thats where the company is run from.
HI
i have thought of a internet business idea that i would like to do from the uk, but i live in oz, does anyone know how this would work with tax etc, would i have to pay it in both countries, i have choose the uk as i know all about what i would be doing as i have done this already in the uk, and there is already something similar running in oz, any advice on this would be great
thankyou
i have thought of a internet business idea that i would like to do from the uk, but i live in oz, does anyone know how this would work with tax etc, would i have to pay it in both countries, i have choose the uk as i know all about what i would be doing as i have done this already in the uk, and there is already something similar running in oz, any advice on this would be great
thankyou
Aug 16th 2007, 5:13 am
#4
no longer searching
Joined: Sep 2002
Posts: 2,030
Re: Running a internet business from Uk but living in oz
yes re double tax agreement, but there are more complicated rules than that for which country it would be taxed in (knowledge from UK tax perspective although a few years out of date, but some fundamental things don't change often). This you need to get professional advice for your particular circumstances, and with advice the way you set it up could save tax.
Aug 16th 2007, 5:51 am
#5
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Joined: Feb 2006
Location: Sunshine Coast, Qld
Posts: 98
Re: Running a internet business from Uk but living in oz
I have first hand experience of this.
But my business is based in the UK, even though I live in Australia (it's a partnership with a UK address), and serves Brits/Euros. Therefore it is not quite the same but you may be able to work from this or learn something from it.
VAT charged to customers (if applicable). UK tax paid only. Not treated as Aus income, therefore not taxable. However, UK income is able to be presented as a factor in gaining credit/mortgage.
You're here and not there. That may make a difference. Therefore seek the advice of your accountant who will know the answer for sure as he/she will contact the tax office and make a note of the comments for future reference - just like mine did. No more sleepless nights looking forward to a big tax bill!
Paul.
But my business is based in the UK, even though I live in Australia (it's a partnership with a UK address), and serves Brits/Euros. Therefore it is not quite the same but you may be able to work from this or learn something from it.
VAT charged to customers (if applicable). UK tax paid only. Not treated as Aus income, therefore not taxable. However, UK income is able to be presented as a factor in gaining credit/mortgage.
You're here and not there. That may make a difference. Therefore seek the advice of your accountant who will know the answer for sure as he/she will contact the tax office and make a note of the comments for future reference - just like mine did. No more sleepless nights looking forward to a big tax bill!
Paul.
