Hi, if I'm posting this in the wrong thread, I apologise.
If all goes to plan, I will hopefully be publishing on Amazon sometime late next year.
I understand what I have do regarding US tax and that I should register as self employed with HMRC. I'm a little confused though so hoping someone can offer advice.
Does KDP automatically deduct tax from royalties for uk citizens?
for example, say royalties of £5000 is paid into my bank, would this be £5000 with the tax already taken or would I need to keep some of that 5k back to pay taxes?
I feel really silly not being able to figure this out but my head is spinning and I've been thinking about it for the past three days. (Yay anxiety) I just don't want to mess up.
If all goes to plan, I will hopefully be publishing on Amazon sometime late next year.
I understand what I have do regarding US tax and that I should register as self employed with HMRC. I'm a little confused though so hoping someone can offer advice.
Does KDP automatically deduct tax from royalties for uk citizens?
for example, say royalties of £5000 is paid into my bank, would this be £5000 with the tax already taken or would I need to keep some of that 5k back to pay taxes?
I feel really silly not being able to figure this out but my head is spinning and I've been thinking about it for the past three days. (Yay anxiety) I just don't want to mess up.
