Sunday, August 04, 2013

Could this Book Save You Hundreds a Year?

If you are an ebook writer from the UK and selling your books through Amazon and Smashwords, then you could very much benefit from one of my newest books. It has information in it which will show you, in simple step by step terms of how to avoid paying US tax. Every time you are sent a payment for US ebook sales, you will be taxed at 30%. YES 30%!! This will be taken away at source. Then when you complete your UK self-assessment tax return, you will have to pay UK tax and National Insurance on those earnings, if they are large enough. The US tax is not determined by income. You will be taxed 30% on everything you earn.

The good news is, that the UK and US has a tax agreement between them which means that you can become exempt from paying tax. However, the IRS is rather like our UK tax office in that it needs this done formerly. You will need to complete the correct paperwork and follow the right process in order to get this exemption. There is information on line on how to do this, which is how I did it. However, I found it really difficult to follow. As I worked through the process I completed a step-by-step guide which I promised that I would send to a couple of people who also sell ebooks and wanted to know how to do it. As I had the information documented, I decided to publish it, so that I could help other people to do it too.

The book is now available to buy on amazon. There is a link to it below. I am just charging a nominal £2.00 for the book at the moment. I need to make some money and it seemed like a good way and I know people reading it will make back a lot more than they spend on it. However, I know that people do not have much money to spend, so I have kept it cheap.


Thomas said...

Double taxation at its best. I am not from the UK but I'm sure this is something that would be very beneficial. Just think for every 100 you are losing 30. Thats a lot of money that could be in your pockets.

Rachel said...

It sure is - especially if you are selling lots of books. I will make back the costs of getting the tax number (postage plus renewal of driving licence) in my next quarters pay out. So well worth it!

David G. McKenna said...

I believe the same withholding taxes apply to Canadians. Good watchout.