following recent and confirmed reports based on actual stats and analysis carried out by experts and companies, on behalf of MP’s groups based in Brussels and the EU parliament, and according to data confirming poor and not efficient control over the industry sectors and with particular ref. to merchants and commerce, we are below quoting sample of communication exchange, between accountants and bookkeeping agencies based in london, and profession associates who have currently made decision to move tax residence elsewhere and seeking more convenient forms for trading with consulting companies and consultancy firms.
Hello Mehreen !
key points: [ for the meeting ]
– registration with directaccountantsuk
– pre-paid service agreement handling, ( advance payments ).
Unlikely there will be invoicing requirement and if any, it ‘ll be with figures for standing balance or top-up’s payments, to carry out activities according to project definition. We also are in the middle of discussing whether the advance payment will be issued while in the UK already, or elsewhere instead and right after signing service/consultancy agreement for each and every project we’ll work on.
Most likely the company in luxembourg will issue advance payments based on their own project drafts and briefing, and for me to take the advance into UK then, tax-residence is subject to change and may be different for either the advance and for standing balance, the latter due upon project delivery or project completion.
in addition to the above, the company in luxembourg will also make record of prepaid expenses and will appear on their balance sheet as asset however, i don’t want to get into understanding how they will handle the asset against NoPO ( no profit organization ) constraints and obligations, what concerns me the most at the moment is to understand whether directaccountantsuk, have capabilities and capacity to handle a tax return with maybe uncommon figures as in not much income/revenues coming to UK and plenty of expenses/costs instead ( as well as following a NoPO pattern we follow )
– tax allowance ( around 50-60£ for each and every day of active work, that will be deducted from gross income i believe, and B4 tax calculation. Any required/mandatory registration or current registration amendment with a industry that is specific for the aforementioned tax-allowance in the UK, has to be discussed during the meeting )
thanks’ in advance,