In order to garner my Amazon Kindle sale money earned in America, I am going to have to approach the USA IRS and ask for an Employee Identification Number. If I don't, then the IRS will withhold 30% of my earnings as tax, and I certainly don't want 30 dollars of every hundred I earn going into the coffers of the White House for Mitt Romney nor even the rather nicer Barack Obama. Our own HMRC is going to try and knock tax off the remaining income for having been earned overseas anyway.
Running down the list of how-to's here from David Gaughran I noted that I might need to be a "company."
Although I'm a member of a committee that runs an equine breed society as both a charity and a limited company and so I am technically a director, I've never incorporated myself before. It was a scary thought. My husband was self employed for forty years and never traded as a limited company. But I shall be sixty in a couple of months. I'm a big grown up girl. I can do this!
I had already printed my books with the press name of Jackdaw E Books.
I was very cautious. I went to the Companies House web site with expectations of it being complex and expensive, but in fact it wasn't. I only entered my own name and address details. I said I was the director and had no secretary, that I owned 1 ordinary share and it was worth £1, and that there were no other shareholders.
I had to give various snippets of information like the first three letters of my mother's maiden name, in lieu of signature. At the end of the form, which validates the data and corrects you if you leave anything out, I waltzed off to PayPal, paid £15, and the deed is done. I am now "Jackdaw E Books Ltd" (with no full stop).
Since this ought to enable me to save $30 on every $100 from Amazon I reckon it was well worth doing. I'll have to post the company details on the web site, but that's easy enough, once they send me the company registration number.
I just have to make that transatlantic phone call now. Does anyone know what time it is in Philadelphia?
Sue Millard - Jackdaw E Books. Horses, history and humour (not necessarily in that order) and general witterings; some vaguely literary, mostly rural. I live in Cumbria in Northern England.
No comments:
Post a Comment