Jun 4, 2016 12:53:28 PM by Harold Rene' M
Hi to all,
I had a question: I'm opening a LTD in London as non resident. The suppose invoice will be under the lower invoice needed to have to access to a VAT number. I would like to know how the VAT would be calculated in this case.
Thanks for any advice,
Harold René.
Jun 4, 2016 01:18:15 PM by Nichola L
Upwork will NOT be able to advise you as to how company law works in UK.
If you have a Ltd UK company that is registered with Companies House, you have to register for VAT if your supply threshold is likely to exceed £73,000 (I think this is at 20%). However, even if you have a Ltd company in UK, and you operate outside the UK, local (i.e. where you live) VAT applies. This is a very simplistic explanation and you would probably need an international accountant/company lawyer to advise you fully.
Upwork is actually quite simple. If you have a VAT number, regardless of where you pay your taxes, and you enter it in your accounts page, you will not have to pay Upwork's 10% VAT on the service charge.
Upwork is not responsible for your personal tax calculations.