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UK TAX Law

Discussion in 'BlackHat Lounge' started by wheels70, Jul 24, 2014.

  1. wheels70

    wheels70 BANNED BANNED

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    Hey guys,

    Right so im going to be doing a JV with another member. He lives in india, i like in the UK.
    Basically, he provides the high quality websites (Which are already receiving high traffic) and he puts my Google Adsense ads on his sites.
    I get all the money into my adsense account and then once its in my bank i will wire his 75% over to him.

    My question is, i have to declare extra income to the dreaded taxman. However if they see that Google adsense have sent me £XXXX
    each month (Payable to me). Would they demand i pay tax for the whole amount or just my share?

    I dont want to suddenly get a massive tax bill because i have to pay tax on my partners earnings. It would wipe out my 25%


    Hopefully this makes sense. Thanks in advance.
     
  2. Trepanated

    Trepanated Supreme Member

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    If he invoices you for his 75% there is no problem.

    Failing that, you could agree with him that his 75% is paid after all your incurred taxes have been paid.
     
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  3. Duffers5000

    Duffers5000 Elite Member

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    Adsense will fire a direct route of info to the taxman.

    Once you are getting clear invoicing and can show transfers...ie a correct profit and loss then just declare tax as you should do.

    If we are talking real money incorporate a company.
     
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  4. wheels70

    wheels70 BANNED BANNED

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    Thanks for the replies.

    So in theory as long as i get him to post/email? an invoice for 75% of the earnings and then get evidence of the transfers then i should be OK. Im just scared that the tax man will try and tax me for the whole amount leaving me in debt

    Thanks again.