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@TrueBrain
Last active September 10, 2024 05:35
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Signing binaries and getting on Steam
@TrueBrain
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Once you set up the corporation, how much will it cost for annual income tax filing and bookkeeping? In my personal experience, I've found that to be surprisingly expensive for a small corporation...

For a Stichting, the only yearly work is tax filing really, and you can get an exempt for that with a company this size. That means the only thing you have to do is to keep a book of what you get and spend a year, and store that somewhere for a few years. Very minor bookkeeping. That is one of the reasons I was looking into that form ;)

For the UK variant, orudge is already doing that for his own company, so I am sure he knows the work he would be getting into.

But yeah, from experience too, having a normal company that makes money, requires you to spend silly amounts of time a year to get everything in order .. ugh :P But luckily enough we can avoid most of that.

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orudge commented May 3, 2020

If we had a UK “holding” company for the very limited purposes I described, there’s a £13 filing fee per year, plus 19% tax on profits - however, if income = expenses (or expenses + £1), profit will be very minimal and tax will too. As there will be very few transactions going through the accounts, a spreadsheet will be sufficient for accounting. Total cost maybe £15/year. VAT registration not required under £85K turnover. Can also get a fee-free business bank account for this trivial amount of turnover.

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