Shall I register as a sole trade in UK while I have to go to another country for a year?
I am a software engineer that I have decided to start my own business; my clients will be mainly from UK and I get paid through my UK bank account.
But problem is I have to go to New Zealand for a year later, during the time, can I still work as a registered UK sole trader? And what about the tax, same as if I were in UK or?
Thanks for advice.
James
Answers:
Unless you are out of the UK for a complete tax year, you will remain resident in the UK for tax purposes and so be liable to tax on your worldwide income. You would continue to draw up your accounts in the same way and complete self assessments as normal. If you are charged tax in NZ, credit would be given in your self assessment, so make sure you retain proof of this.
That is what I did. You can still operate as your traded name under which the invoicing gets done without breaking any laws.
Enjoy it down under - great people!
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