Company in gibraltar

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buttmonk

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Hi everyone.

Just got a question.

I have been promoting for a dating company based in Gibraltar for a couple of years, and i know companies based there don't pay any tax.

So, if this company has been paying me affiliate commisions from may 2009 to march 2010, do you think i shouldnt declare it in a tax return, as no tax people are going to check who they have paid money to?

Please let me know if u are experienced in this :)
 
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How do they pay? If that money enters any US account (savings, checking, etc.) you better hope you dont get audited. Because then it doesnt matter what the gilbralter company did....
 
I'm inclined to tell you to forget it, as I had a similar situation a while back
and got away scott free. I did however see a tax consultant and thats
what he told me to do, but my situation was probably different from yours
and it was over 10 years ago.

My advice to you is that you should go see an accountant, they are on your
side and prolly won't even charge you anything for the advice. Even if they
do it won't be much and it would be a small price for a little piece of mind.
 
Cheers for the replies guys.

Just found the answer on the affiliate faq :

' This means that the affiliate receives some 50% commission on all new sales made through their site, as well as 50% commission on rebills. (And, due to Bone Fish Ltd being based in Gibraltar, all monies generated through the service are 100% tax-free) '

Nice one! :D
 
I wouldn't trust that. It is tax-free for them, but doesn't mean it is for you. Don't know uk tax law, but pretty sure they tax you on all income regardless of where it is generated.

Go talk to a tax pro to cover your ass.
 
Code: 
http://www.hmrc.gov.uk/working/intro/selfemployed.htm
 
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