Because they are connected. Both incomes together meant that
we went over
the VAT threshold and simultaneously the foreign income
became VATable in
April. Either UK or US separately would have been okay but
both together
and the annoying system of taxation here meant we got hit.
And if you set up a US subsidiary in Delaware, would that help?
The US end would pay royalties to the UK arm.
Or one in the BVI...
And, no, I'm not being frivolous.
On the other hand, if you now have to collect and pay
VAT (including, obviously, on your UK games) then all your
business expenses become VAT deductable in return. With a
good accountant you can make it end up that C&E owes *you* money...
I would love to have been in the meeting where you explained PBM
to the Excise officer and he tried to figure out how and where
to tax it! 
Gavin
PS Is this a foretaste of the aggro we're going to have in the
EU come July 2003 when trying to order online software from
the US...?
Clint,
You might also consider a Nevada corporation because there is no state income tax there.
Chris
> Because they are connected. Both incomes together meant that
> we went over
> the VAT threshold and simultaneously the foreign income
> became VATable in
> April. Either UK or US separately would have been okay but
> both together
> and the annoying system of taxation here meant we got hit.
And if you set up a US subsidiary in Delaware, would that help?
The US end would pay royalties to the UK arm.
Or one in the BVI...
And, no, I'm not being frivolous.
On the other hand, if you now have to collect and pay
VAT (including, obviously, on your UK games) then all your
business expenses become VAT deductable in return. With a
good accountant you can make it end up that C&E owes *you* money...
I would love to have been in the meeting where you explained PBM
to the Excise officer and he tried to figure out how and where
to tax it!
Gavin
PS Is this a foretaste of the aggro we're going to have in the
EU come July 2003 when trying to order online software from
the US...?
Middle Earth PBM - hit reply to send to everyone
To Unsubscribe: http://www.yahoogroups.com
Website: http://www.MiddleEarthGames.com
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
Chris Ricci
President
Chris Ricci Presents, Inc.
phone: 209-312-3463
fax: 209-551-2952
http://www.chrisriccipresents.com
http://www.modestoxfest.com
ยทยทยท
At 01:10 AM 5/15/02 +0200, you wrote:
