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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 9406
Experience:  FCCA FCMA CGMA ACIS
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I've been recommended to use your website for my question.

Customer Question

Good afternoon, I've been recommended to use your website for my question. I'm making my business movements to bring in my online teaching website. Can my online website operate in UK but sell the service abroad and use worldwide teachers under the label of sole trader and exempt of VAT?
JA: Have you talked to a tax professional about this?
Customer: no, I haven't.
JA: Anything else you want the Accountant to know before I connect you?
Customer: I'd say this is the main question before I register my business in UK.
Submitted: 7 days ago.
Category: Tax
Expert:  bigduckontax replied 7 days ago.

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

No problem, educational services are outside the scope of VAT so you can forget all about it.

Customer: replied 7 days ago.
Good afternoon,So my next move is to become self-employed in UK and I'll be able to start operating as a British company ( service ). Can you confirm so?How & when do I need to declare for my 2021 business trading and TAX information?
I'll start operating here in UK from January 1st, 2021.What else do I need to have in mind? I guess a British bank account, but can I operate in EUROS only?
Customer: replied 7 days ago.
I'd rather have this information now before making a phone call; we will once I have more relevant information to ask, as I will need you advice and help for, but not yet.
Expert:  bigduckontax replied 7 days ago.

You will be lucky to open an UK bank account and deal in Euros, it will cost you a small fortune in bank and exchange charges. If you operate in a limited company envelope your accounting year will end on 31 December 2021.

Customer: replied 7 days ago.
all my suppliers are paid in EUROS or DOLLARS, as all our services is in EUROS actually. Open to use one unique currency and that would be EUROS or POUNDS - to be decided in the next coming weeks.The MAIN questions is - I start operating on January 1st 2021 and I don't need to deal with TAXES until after December 31st 2021 - HOW?Once I have this information, I'll be able to PLAN for this BUSINESS and see if it's doable. Once I make this decision, then I'll need your services for a detailed report. Can you help me the process?
Expert:  bigduckontax replied 7 days ago.

You have the tax position correct as at present.

Customer: replied 6 days ago.
Good morning, I'm back.
Your answer doesn't seem to help me much, sorry but my English is not that strong when it comes to legal terms.What do you mean by " You have the tax position correct as at present "?
Do you mean that TAXES are dealt "annually "?
if so, how can I do this part? online? physically?Bear in mind I'll be traveling around the world, as I'm based here and there, so that's why I need to have all this information before I officially open a BRITISH business / self-employed.Awaiting to have from you - thank you!
Expert:  bigduckontax replied 6 days ago.

At the end of each accounting year you would have to declare your income and expenses.