Card Payments When Gigging

[northcountrybob]

Venmo seems like a bit of a funny one. Seems like they warn you about not being able to get to your account after you leave the US. I also can't find Venmo on the UK Apple app store. I was going to download it to my iPhone and have a play. Quite convoluted all this! 

[asingardenof]

5 minutes ago, northcountrybob said:

Venmo seems like a bit of a funny one. Seems like they warn you about not being able to get to your account after you leave the US. I also can't find Venmo on the UK Apple app store. I was going to download it to my iPhone and have a play. Quite convoluted all this! 

Venmo isn't a thing in the UK so you may not be able to find it. PayPal might be a more universal option, or a bank account that allows you to pay via URL like Monzo.

[G-Lo]

5 hours ago, asingardenof said:

You wouldn't need to pay US income tax unless you earn over $70k in a year (I think) but you may still have to file, in which case you'd need an ITIN number. If you do have to file and do end up earning over $70k then you'd claim that back as foreign earned income exclusion. The US tax system is extremely complicated and long-winded so good luck with that!

That I didn't know. I had to pay tax as a seafarer when working in the Gulf- in the Offshore sector. I don't make 70k a year but I did pay significant amounts, it's to do with agreements on that sector. Irrelevant to this post other than there may be exceptions for certain professions...

[Downunderwonder]

20 hours ago, asingardenof said:

Contactless payments aren't common at all in the US (seriously, my MIL still has to sign receipts when she comes over here, which always leads to cashiers scrambling to find a pen and/or having to call a supervisor) so I'd suggest using Monzo, Venmo or PayPal. 

That's down to your MIL and her bank. The average American over here was waving away before Covid. These days maybe 1 in 50 still has to sign.

[Burns-bass]

Just because you’re in the USA, it doesn’t mean you need to register for US tax. 
 

My business is based in the UK and we work with clients in the States, Europe and Hong Kong. As long as your transactions are recorded here I can’t see why you’d need to hassle and inconvenience of a US bank account.

 

Stripe with a card reader should enable you to process transactions anywhere and have them paid to your UK bank account. 
 

I have a retail business and we process international transactions here.

[Agent 00Soul]

3 hours ago, Downunderwonder said:

That's down to your MIL and her bank. The average American over here was waving away before Covid. These days maybe 1 in 50 still has to sign.

This is true.  I often have to sign in the UK when I use the same US credit cards that I don't have to sign with in the States for some reason though.

[Burns-bass]

On 14/03/2023 at 07:49, Burns-bass said:

Just because you’re in the USA, it doesn’t mean you need to register for US tax. 
 

My business is based in the UK and we work with clients in the States, Europe and Hong Kong. As long as your transactions are recorded here I can’t see why you’d need to hassle and inconvenience of a US bank account.

 

Stripe with a card reader should enable you to process transactions anywhere and have them paid to your UK bank account. 
 

I have a retail business and we process international transactions here.

I asked my finance bloke and it seems I’ve got this wrong so ignore me!

[Happy Jack]

The argument that a limited company offers protection or, worse, guaranteed protection is something to treat with caution. Depending on how and why you end up owing megabucks, you can easily find that your creditors can come after you personally. 

 

From the POV of succession planning, losing and replacing band members etc, I'd recommend forming an LLP as a far better, more flexible option.

 

GET PROFESSIONAL ADVICE!