Review Group discussion

I've just seen this blog - the best and clearest instructions I've seen so far:

http://daisychainsofsilence.wordpress...

I haven't tried yet, but I'm about to as I don't want to pay 30% of my royalties when the UK has a 0% tax agreement with the USA. It's taken me over a year to get anywhere near the $100 threshold for payment and I don't want to lose any!

I got this link from this blog:
http://ross-harrison.com/2012/07/07/a...
and Ross gives a bit more info on the phoning America bit - what you'll be asked, what to expect.

OK, it took nearly an hour on the phone, but on Skype that only cost 85p. I now have an EIN and a completed W8-BEN ready to send to Amazon :)

Thanks for posting this, it's been on my to-do list. Didn't think of using skype!

Do you still get paid in cheque from the US if you are in the UK? It's all a bit of a palaver really, isn't it.

I do know there is a company that offers a banking service - you get a legit bank account no for amazon payments but you can access it via paypal to get your funds. Since Australian banks charge $10 to cash an overseas cheque, I'm thinking of looking into it.

Let us know the details when you find out please, Kathryn, it really is all a bit of a nightmare for us. My bank has US branches, but trying to get them to admit they can sort it for me to have a virtual account link has been fruitless. I can happily pay money TO the USA that way, but they act dumb about accepting money FROM the USA that way.

Jay, this is the website for the company - http://www.payoneer-affiliates.com/?u...

There is also a discussion on the kindleboards about it - http://www.kindleboards.com/index.php... - this goes through all the fees. They have a $29 a year fee plus fees on transactions so I'm not sure what is best. If I thought I was going to get at least 3 cheques a year, I'd be all for it but unfortunately I'm not up to that level.

I'd thought until recently if you were in any of the Amazon territories you could get all your payments by EFT but looks like that isn't the case.

I'm with you on the insufficient sales to warrant $29 a year fee, Kathryn, but thanks for letting us all know. At least now I won't be paying 30% tax. My W8-BEN will be in the post this morning :)

In case any of you are wondering, let me add a little clarification here. If you are a UK resident, then the tax agreement with the USA is for 0% tax to be withheld on USA sales of books. BUT you need to get a tax identification number or by default they will withhold 30% of royalties in tax.

To get that tax ID you have 2 options:
1) You can complete a W7 form and send it off with your passport and a notarized signature and other stuff in order to get an ITIN (individual tax identification number) which you then use on your W8-BEN form
2) You can contact the IRS and ask for an EIN (Employer Identification Number) - just a phone call, no paperwork, no ID proof, you just declare yourself to be a Sole Proprietor of a business, effectively employing yourself. You are SP of a business, said business being writing. Over the phone they give you your new EIN which you then enter on the W8-BEN and you send that off to Amazon, Smashwords, Lulu, whoever.

Simples!

How are we going to fund our study of shrimp on a treadmill if you Brits keep asking for your money? We are fighting shrimp obesity, a known scourge of the free world. We are egalitarian, we can waste pounds as well as dollars. Give us the chance.

Shrimp on a treadmill:

http://www.youtube.com/watch?v=cMO8Py...

With the absolute fortune I'll save I'll be able to visit the USA - in spirit.

Jay, have you heard anything back from Amazon? I sent my form off a while back and can't see anything on their site to say if it's been done or not. Getting worried as the end of the month is approaching fast!

Kathryn wrote: "Jay, have you heard anything back from Amazon? I sent my form off a while back and can't see anything on their site to say if it's been done or not. Getting worried as the end of the month is app..."

I heard back from both Amazon and Smashwords within a couple of weeks.

I've heard nothing yet so have emailed Amazon to see if they can hold off on payment until next month. I'll update with their reply in case anyone else has a similar situation and needs to know.