Nov 9, 2019 02:21:56 AM by Giacomo U
Hi, I'm deciding to open a VAT number but I think I will do it in January 2020. In this case it would be possible to withhold all the money I will earn from now until January 7th 2020 on my upwork account and cash it as soon as I open my VAT number? thanks
Solved! Go to Solution.
Nov 9, 2019 03:42:54 AM by Petra R
Giacomo U wrote:Thanks Petra for answering me! I knew that upwork would charge VAT even if kept the money. I needed to do it for tax reasons due to the rules of my country. I tried going to "edit payment schedule" but it only gives me this choice - Quarterly (Dec 30, 2019) - It seems I can't go beyond this date. suggestions? Thanks again
Ah, I see.
Yes, there is a (slightly sneaky) way to do this. I'll send you a PM in a little while.
Nov 9, 2019 03:23:55 AM by Petra R
Giacomo U wrote:Hi, I'm deciding to open a VAT number but I think I will do it in January 2020. In this case it would be possible to withhold all the money I will earn from now until January 7th 2020 on my upwork account and cash it as soon as I open my VAT number? thanks
The VAT is applied when earned, not when you withdraw.
You can set your scheduled withdrawal for 3-monthly, so yes, you theoretically can keep your money on your Upwork account, but that will not affect whether Upwork charges you VAT or not.
Nov 9, 2019 03:39:22 AM by Giacomo U
Thanks Petra for answering me! I knew that upwork would charge VAT even if kept the money. I needed to do it for tax reasons due to the rules of my country. I tried going to "edit payment schedule" but it only gives me this choice - Quarterly (Dec 30, 2019) - It seems I can't go beyond this date. suggestions? Thanks again
Nov 9, 2019 03:42:54 AM by Petra R
Giacomo U wrote:Thanks Petra for answering me! I knew that upwork would charge VAT even if kept the money. I needed to do it for tax reasons due to the rules of my country. I tried going to "edit payment schedule" but it only gives me this choice - Quarterly (Dec 30, 2019) - It seems I can't go beyond this date. suggestions? Thanks again
Ah, I see.
Yes, there is a (slightly sneaky) way to do this. I'll send you a PM in a little while.
Nov 9, 2019 04:31:30 AM by Petra R
Giacomo U wrote:Thanks!
You're welcome!
Do bear in mind that if ANY part of your funds is more than 180 days old, it will all be forcibly withdrawn.
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