Telephone cards distribution business
- Explanation of Place of Supply Rules regarding telecommunications services.
- Phone cards – goods or services? Impacts physical delivery to UK establishment.
- VAT rules for telephone cards, face value cards /vouchers, pre-paid, post-paid cards, promotional schemes etc,
- VAT rules at distributor level & retail level – taxed when sold or taxed when used.
- “Reverse charge” VAT rules for phone cards.
- VAT registration process – what HMRC will ask and what the business will have to provide.
- VAT presence/nexus in terms of physical UK office and internet selling.
- Comparative study of offshore jurisdictions for internet business.
- How to track who is using your service for internet sales? What the VAT law requires you to do?
- Electronic invoicing and record keeping in Europe (on-line sales) – your billing records will be audited regularly. Do you wish to avoid expensive financial penalties for non-compliance?
- VAT rules regarding selling from physical location in UK.
- What is the difference between “business” establishment and “fixed establishment – concepts which are critical to application of VAT to your sales.
- Preparation of VAT returns, declarations and payment of VAT.
- Reclaiming VAT suffered on inputs & business expenses to reduce your VAT bill.
- VAT rules regarding buying or procurement from main suppliers.
Direct tax (corporate income tax)
- Strategy for a suitable onshore-offshore structure for corporate tax for online sales and physical distribution.
- Impact of transfer pricing regulations.
- Impact of permanent establishment rules (different from the VAT establishment rules).
- Use of tax treaties.
- Impact of UK Controlled Foreign Companies legislation.
- Procedure for UK corporate tax returns for the UK company.
- UK company or branch office?
Please contact us for further details.