Fuck Taxes
I also have a question, how do you deal with the taxes
? I pay 10% of my income in my country. and still, 10% seems like a lot to me.
? I pay 10% of my income in my country. and still, 10% seems like a lot to me.
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I write everything off. As much as I can.Herschel Savage
Brooklyn, NY -
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here in Spain we pay 21% tax on all our income & due to creating the content, we also pay 21% vat...
It´s a lot to pay out, seeing nearly half your earning go to the tax & vat man!
not sure the amount is VAT in the UK, US or other countries for creating content, but if correct, every content creator should be paying VAT, you´ll have to speak with your accountants
We also pay autonomo here in Spain, this is similar to NI in the UK, I suppose in the US, national insurance is paid as a medical insurance & separate pension.My official site / Custom vids / Make money links / First time girls
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so yes, in the UK, all supplies, E.G. creators, should be paying 20% VAT on their incomes...What is VAT charged on in UK?
VAT is a tax on business transactions that potentially affects all purchases and sales. It is not a tax on profits. VAT is charged at 20% on most supplies, though some are taxed at either 0 or 5%.
here in Spain...
other than the above it´s 21%...What is exempt from VAT in Europe?
Some goods and services such as education, healthcare and financial services may be exempt from VAT. These sales are exempt from VAT, without the 'right to deduct'. This means you may not deduct the VAT you have paid on purchases related to such sales.
What services are exempt from VAT in Spain?
Exempt transactions
healthcare;
educational activities;
social welfare assistance;
cultural activities;
sporting activities;
financial transactions and insurance;
real estate.
the tax and vat can hurt, but then the cost of living is half that in the UK, anything, petrol, rent, insurance, food, drink, everything is very low cost & the sun´s out every day of the year, so it´s summer every day, hence the amazing life style & why i´m happy to pay the vat & tax costs
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You don't pay the VAT, the consumer does. You only collect it from them to sent it to the government.so yes, in the UK, all supplies, E.G. creators, should be paying 20% VAT on their incomes...
here in Spain...
other than the above it´s 21%...
the tax and vat can hurt, but then the cost of living is half that in the UK, anything, petrol, rent, insurance, food, drink, everything is very low cost & the sun´s out every day of the year, so it´s summer every day, hence the amazing life style & why i´m happy to pay the vat & tax costs
The VAT you pay for your business, (camera's, hosting, laptop) you get back.
I was wondering how much health care cost there are.
I think on Canary Islands, the tax is less (Income Tax / VAT).
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10% is a good deal. You can compete with Western Europe freelancers that pay 40% (or more) and where life is more expensive. And earn the same amount of money, but pay 30% less tax.
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That is true but if you're selling to consumers, you can't collect it from them. If you're selling a product at $19.99 and then you suddenly go over the VAT threshold so you have to start paying it, you can't just add 20% onto your prices and expect to make the same sales. So effectively you're the one paying the VAT.Comment
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Electric is so low cost in Spain, thankfully due to the country running on solar & wind, due to sell electric to
Europe...
I thought similar! 10% omg yes please
Agreeing, the vat is charged and then we pay the VAT to the country, but it still comes from my earnings, what goes in my bank, I pay the 21%VAT every 3 months, as should any creator...
wtg tube site owners
Health care, read below, going to speak with Manfap about automomo, this being health care & pension...
it´s gone crazy! It´s a new system, helping those that were earning less & making the situation more equal, no it doesn´t!
The lowest amount payable is for anyone earning 7k and under, then 10 and 15 and so on. So the government were making less to pay for lower earnings, but seems the lowest amount to pay out is what most people were paying anyway...
basically, they´ve just added loads on for normal earnings! ouch...
yes, it´s 500€ out of the bank monthly, however, if you ask anyone in the US or with personal healthcare, you´d pay 2k a year anyway. & with it also being pension, it´s ok, just a bit harsh.
What we´re wondering, as we paid into the UK system for over the 20 year and now paying here, hoping to pay for the next 20 year, would we receive 2 pensions each or just the one from the country we live in?
Logically, Brits live in Spain and receive the British pension, so i´d have thought if paying both countries over the years, won´t we both receive both pensions from both countries?My official site / Custom vids / Make money links / First time girls
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Don't know about UK situation. If you subscribe from the Netherlands, you get 2% less pension every year you ar out of the country. So if you are out of the country and not paying 20 years (you can pay voluntary in Holland to keep 100% pension), you get 40% less pension from The Netherlands. And i think Spain won't pay 100%, but also will look how many years you paid taxes there. Buti am not sure in Spain/UK. I think would be equal, else everyone would work in different countries for a few years when you get 100%.
In Holland there is also the rule, when you live abroad in a cheap country without agreements between those countries, they only pay 80% pension of the amount that you would normally get.
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Correct.
Correct, when you acquire from a supplier who is located in your own EU country VAT is collected at the time of purchase, you can claim it back. If you acquire from abroad you have to self account for VAT because the supplier will not collect it.
It has to go down that road eventually
Maybe an API at the EU level that payment processors have to use. This way EU admins could change rules easily in a centralized way.Comment
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I've lived in third world countries with no taxes, and lived in first world countries with brutal high taxes.
Currently happier enjoying the first world and just paying the damn taxes while trying to make more.Comment
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My advice is don't fuckaround when it comes to taxes.
Get a good accountant and make every legal thing you can a tax deduction, but don't get cocky. If you think you are right about claiming a deduction that they disagree with by all means argue your point, but remember the the government has alot more time and money than you do. If you try to fight them on taxes, they will fight back.Comment
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