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  • Withholding tax

    Hi, please advise, how to calculate the maximum amount that can be deducted from the generated profit of LTD in based on the withholding tax paid in Poland? Thank you in advance.
  • Form CF83

    Hi, please advise, my client has a gap in his record for one year and he wants to fill that. He had contact with Future State Pension and they told him that is possible. Now I have a couple of questions. My client’s residence is in Poland, he is a director of Limited Company. Does he have to fill a CF83 form? Thank you in advance.
  • Dropshipping

    Hi! Please advise. Reffering to The Margin and Global Accounting Scheme (VAT Notice 718), what in case if this is Dropshipping? I am not the owner of the imported product, I am only the agent between the buyer and seller. Let's say that my LTD company is selling products from Alliexpress on my Internet shop. The customers are only from Poland. The products are shipped directly from China to the customer. So I am the sales agent. According to: FRS 105 Section 18 paragrafph18.4 "A micro-entity shall include in revenue only the gross inflows of economic benefits received and receivable by the micro-entity on its own account. A micro-entity shall exclude from revenue all amounts collected on behalf of third parties such as sales taxes, goods and services taxes and value added taxes. In an agency relationship, a micro-entity (the agent) shall include in revenue only the amount of its commission. The amounts collected on behalf of the principal are not revenue of the micro-entity" FRS 102 Section 23 paragraph 23.4 "An entity shall include in revenue only the gross inflows of economic benefits received and receivable by the entity on its own account. An entity shall exclude from revenue all amounts collected on behalf of third parties such as sales taxes, goods and services taxes and value added taxes. In an agency relationship, an entity (the agent) shall include in revenue only the amount of its commission. The amounts collected on behalf of the principal are not revenue of the entity." Even in this case I need to get invoices from Chinese seller and issue invoice for the customer? Many thanks.
  • RE: Dropshipping

    Hi! Thank you for your answer. Reffering to The Margin and Global Accounting Scheme (VAT Notice 718), what in case if this is Dropshipping? I am not the owner of the imported product, I am only the agent between the buyer and seller. Let's say that my LTD company is selling products from Alliexpress on my Internet shop. The customers are only from Poland. The products are shipped directly from China to the customer. So I am the sales agent. According to: FRS 105 Section 18 paragrafph18.4 "A micro-entity shall include in revenue only the gross inflows of economic benefits received and receivable by the micro-entity on its own account. A micro-entity shall exclude from revenue all amounts collected on behalf of third parties such as sales taxes, goods and services taxes and value added taxes. In an agency relationship, a micro-entity (the agent) shall include in revenue only the amount of its commission. The amounts collected on behalf of the principal are not revenue of the micro-entity" FRS 102 Section 23 paragraph 23.4 "An entity shall include in revenue only the gross inflows of economic benefits received and receivable by the entity on its own account. An entity shall exclude from revenue all amounts collected on behalf of third parties such as sales taxes, goods and services taxes and value added taxes. In an agency relationship, an entity (the agent) shall include in revenue only the amount of its commission. The amounts collected on behalf of the principal are not revenue of the entity." Even in this case I need to get invoices from Chinese seller and issue invoice for the customer?
  • Dropshipping

    My company is buying products in China (on Aliexpress) and the problem is that I not able to get an invoice from this service. Products are shipped directly from China to the customer Questions: 1. Can I settle my company via a bank account? I mean to transfer from the bank statement all costs of purchase of products and all payments from sales of products to a special balancing account and settle them on a difference basis? The difference between purchases and sales (margin) will be taxable (company profit is a margin). 2. What if I buy goods in this way and then sell them in Poland? They are no VAT taxable in UK, right? 2.a What if I buy goods in this way and then sell them in Poland? They are no VAT taxable in UK, right? The shipping is directly from China to Poland. 3. Does the company have to invoice individual customers? Or only if they want an invoice I need to issue it? Many thanks. If you are not able to help could you please send me e-mail address to the department of HMRC witch could help me.