How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Sam Your Own Question
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 16842
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

I currently run a window cleaning business. i have 1

Customer Question

Hi,
JA: Hello. How can I help?
Customer: I currently run a window cleaning business. i have 1 franchise set up and this franchise pays me royalty fees every week. Currently the royalty fees i receive are paid into my business account. I was wondering if t would be allowed to set up a separate company that solely collects franchise royalty fees, therefore separating my business entirely from the franchisee?
JA: Have you talked to a tax professional about this?
Customer: Yes, they wern't sure
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: no i dont think so
Submitted: 7 days ago.
Category: Tax
Customer: replied 7 days ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 7 days ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 7 days ago.
hello?
Expert:  Sam replied 7 days ago.
Hi

I am Sam and I am one of the UK tax experts here on Just Answer

I will send you a telephone request but note this does come at at extra charge so do you wish to proceed? with a telephone call or messaging like this ?
thanks

Sam

Customer: replied 7 days ago.
Hi Sam,Just a message will be fine then
Expert:  Sam replied 7 days ago.

Hi

As the royalties all stem from the same trade may I ask what you hope to gain from side tracking this income into a different legal entity? As they are all the same trades so added together for tax tax and VAT purposes

Thanks

Sam