Hello experts! Can anyone help me to guide me the right path? Basically i have developed a social network website that users and we also can make money with the site. We can earn money by having advertisements, placing competition, etc. The problem now is we want to register incorporate company name but i don’t have any of idea how to do because i am living in UK. So can anyone tell me how can i register an incorporate company name and the website where i can register these incorporate company name? If i register my company name with Ltd or Limited company, do i have to pay TAX? End of the day my website is not selling physical goods and all the server will be based on USA. So do i have to pay tax from the earning/profit? If i have to pay TAX how can i avoid paying TAX? Please help me. Thank you.
Go to your town hall, or public service building and file for the name you want. They will walk you through it and answer all your questions. You only have to pay taxes if UK has taxes, amd you make money.
Why do you want to incorporate in the first place? In the US, some state require you to have a minimum tax even if you don't make a profit. There are annual filings and registered agent fees that will run a few hundred dollars. You always have to pay taxes on net profit. It doesn't matter if you incorporate or not. If you want to avoid paying taxes, just don't report the income - and don't complain about jail time if you get caught.
you will have to pay tax if you set up UK Ltd since they are taxed on worldwide income, the best advice is to first talk with your local accountant