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Micro Multinationals: A guide to international finance for small businesses

Book Description

A plain English guide to international finance for small UK-based businesses, this book is essential if you're considering exports. The world is shrinking. If your business has a website, or if you're using Twitter or are on LinkedIn, then you and your business can be seen by people right across the world, and lots of them might be your potential customers. There are lots of exciting opportunities out there. But there is always a catch. Keeping on the right side of the taxman can be time-consuming enough if you run a small business and don't sell or buy anything outside the UK. When you look outside our borders, there are even more tax traps waiting for the unwary small business owner. What should you do to make sure you don't fall foul of not only HM Revenue and Customs, but also the tax authorities in the countries where you're buying and selling your wares? What would it mean for tax if you're travelling overseas yourself to carry out a project for a customer, or if you want to be based in the UK and sell goods or services to customers abroad, or if you want to set up a satellite business outside the UK? How should you deal with selling to customers, and buying from suppliers, in foreign currencies? You may well want to keep your business small, but what if you want to have a local staff member or agent abroad? What are the pitfalls? And are there any grants or help available for small businesses who want to look beyond the UK's shores for customers? Emily Coltman answers all these questions and more in this brand new book. Packed with useful guidance and case studies from UK small business owners who have either spent time working abroad or who are based in the UK but still trade with the world, this book is a must-read for any small business owner who would like to take their business global but is worried about what this would mean for tax.