taxesWe have started a UK Limited Company few months ago and started 2 partnerships with China and Turkey. We will produce SmartPhones and sell them online through our UK Company. The business model is following:
UK Limited company will sell online the productUK Limited company will pay an invoice to China company to manufacture the productThe China company will send the product to our partner in Turkey which will install the Software and send the item to the final customer
At the end we will pay two invoices for 1 item. One invoice to China for the manufacturing, one invoice to Turkey for Operational, Packaging and Shipment. What I would like to understand is the amount taxable.
Let’s assume that my company will have a total income of 1,000 Pounds in 1 year and will pay a total of 600 Pounds to China and Turkey. Is it correct to say that the taxable profit for the Limited company is 400 Pounds? What would be also the additional taxes that we will have to pay because of the online sell?
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