UK Resident exploring freelance work for a Swiss Company
If the firm treats you as an employee then they are treated as having a place of business in the UK and therefore are obliged to operate PAYE on your behalf - this rule has applied to EU States since 2010 and the non-EU EEA members, including Switzerland, since 2012. If you are not an employee then your main options are: An umbrella company would basically bill the client on your behalf and pay you net of taxes and NI.  You potentially take home a bit less than you would being 100% independent but it's a lot less hassle and potentially makes sense for a small contract. You will need to register as self-employed aka sole trader (that's the whole point: pay taxes on income that you're not getting as wages from an employer, who would arrange PAYE/NI contributions), or set up a limited company (in the last case you would have the option of either getting paid as wages or as dividends — which one is better is a complex issue which varies from year to year). You'll find lots of advice on the HMRC website.
You can use the ITR 1 and declare the income from freelancing as income from other sources. As part of freelancing, certain expenses can be deducted provided they are directly related to work and have proper records. Please consult a CA who can advice you on how to do this. The Actual income shown should be less of the expenses. Answering for US tax only: The bank account makes absolutely zero difference.  If you are not a US national and not resident in the US, but earn income from a US employer/client/customer, generally that income is not subject to US tax (no matter where it is banked). However there are (complicated) exceptions, particularly if you are considered to be operating a 'trade or business' in the US or US real estate is involved. Start at https://www.irs.gov/individuals/international-taxpayers/nonresident-aliens and proceed through pub 519 if you have time to spend. I do not know (or answer) about Argentinian taxes. Whether you can find a US bank that wants to open and maintain an account for a foreigner (which is extra paperwork and regulation for them) is a different Q, that is already asked and answered: B1/B2 visas do not allow you to work, but that isn't really in scope of money.SX and belongs over on travel.SX (or expatriates.SX for longer stay);  https://travel.stackexchange.com/questions/25416/work-as-freelancer-while-tourist-in-us-for-an-already-existing-us-client seems to cover it. Hi We are looking to connect with UK medical technology companies and other relevant people who could help us complete a project we are currently working on.  We are currently representatives of a consortium of Drs based in the Middle East and Iran.    With the lifting of international sanctions by the 5+1 group of nations and JCPOA in early 2016, on Iran, has resulted in our clients being very interested in purchasing and becoming official distributors off medical equipment from the UK.  I have had some lengthy discussions with this team in Dubai and Tehran, and I'm told the the domestic Persian market has a very deep sense of of affiliation with German, Italian and French companies, whom have been involved more in the Persian Gulf region than Britain since 2012.  One key point I did however notice is the demand and respect that British Tech commands.  This has encouraged our team to take on this project to help these guys access the products they require.   They are interested in buying from UK manufacturing and reselling it as official distributors to the domestic Persian markets 80million population.    They are also very interested in collaborating with and acquiring the licences to UK medical technologies, which they would like to then buy the rights too or licence/franchise for their locality and they have the capacity to invest in manufacturing this product in the Middle East, working in conjunction with the UK companies.  An example of how this has worked in the past is the French car manufacturer working in collaboration with Iranian Engineering company to produce and manufacture Peugeot Pars car.  Which looks very much like a peugeot 405 but is infact designed and developed  specifically for the local market and is also manufactured locally.  This is a huge success and we feel we can imitate its success in our plan too.  I have been in discussions with a number of sources where I could possibly complete this project through.  I have come to know from my research globally within this sector that there are approx 3500 medical technology companies registered in the UK.   All specialising in various fields.  I was wondering is there a database anywhere which I can't access to see whom and where these companies are exactly in the UK.    I have until now  established that between 70-80% of companies worldwide in MED Tech field are based in or affiliated with either the USA or Israel,  with the majority of the remaining 20% of companies being European or Japanese.  There are also many collaborations between Euro companies which was quiet pleasing for me to see.    We fully understand that the USA under Trump have reinstated the sanction for USA.  However our understanding is that we in the UK are not at present restricted by Sanctions to trade with Iranian companies.   We strongly feel that the British medical technology sector here in the UK could benefit considerably it could also help It to progress  and grow to take a bigger global Market share as well bring in 100s of millions in revenues for the UK economy.  We strongly feel that with Brexit negotiations in the pipeline, as well as the geo political situation that the world finds itself in right now, that this is the right time to work in collaboration with this consortium and help them with completion of this project successfully and lawfully.  We strongly feel though that the due diligence carried in any trade deals needs to be within a framework of EU, UK regulations and in compliance with any UN or other sanctions we are un aware off.  We had been planning to use due diligence guidelines from the USA when dealing with Iranian companies, however we feel this is the main reason why France and Germany along with Italy are winning all the contracts in Iran, and with the help of relevant government departments we would like to develop our own plan for this based on the current situation.  We would like this to be the beginning of a number of high level trade deals we are in negotiations with right now with high level Middle Eastern business consortiums, in Dubai, Doha, Muscat, Tehran, Kuwait.    We feel Britain has missed it to France and Germany when it comes to Iran, and would like to work with all the relevant departments to create a due diligence plan which is effective and helps us reach our goals.  I would appreciate any advice you can give us in this respect.  Thanks  Alfie Star Senior project manager  alfie.star@commodustrade.com  http://www.commodustrade.com "Why are they calling it freelance? It used to be called self-employed.  Freelance used to mean low wage or no wage gigs and was all about the experience and connections you made which would help propel you into what you wanted.   Now people are talking about it as though its the way of the future?  As an accountant, I understand the long term value of labor subcontractors. Pretty much. . . if you think your job can be done at home, it can be subcontracted out to somebody else who does not have to be a full time employee. Kinda like the, ""Can a robot take my job,"" sorta thing?  In summary, genuinely good/original talent is wasted on ""freelance,"" because the creator isn't given the tools to make his/her best work when that work is finding them. . . and lining up one after the other." Zurich has private banking, Singapore has commodities trading, London has EU passporting rights... unless London becomes a major physical trading city or Zurich decides to move to London there is nothing really too feed all those banks. Germany and France have absolutely no incentive to give London passporting rights, they eagerly want Londons tax revenue. you might not have an inclination but that won't be up to you. People can and will move. I am a freelancer based in Europe and I want to tell you: - if you are a freelancer, then you INVOICE your Swizzerland based client The word salary is improper. - So your client will DEDUCE the invoice from its taxes, and NOT pay income tax on top of that invoice. Because invoice = expense.  So, ONLY YOU pay income tax in India. Your client pays no tax at all, not in India, not in Swizzerland. As you are a freelancer and not employee, the company has no obligation to pay employer taxes for you. A company  has financial benefits from working with a freelancer. I totally understand where you come from and what you mean. And yes I would be partnered in this business since I would be the sole (there's only gonna be one) investor. The guy can't keep up demand and he doesn't wanna export is what my friend - his sister - told me so he's looking to find an investor. And I know it isn't free money since technically I would be investing and resorting the benefits of said investment. However, it would be tax-free afaik but even if it weren't I'd still be partnered with him and his business Its late for summers yeah, but I think SocGen are open now for off-cycle internships - the others will be open soon.  I decided late into my masters that I wanted to do banking, so had to cold call botiques until one caved and is taking me for the summer while I do my thesis, so don't be afraid to cold call.  WSO is also probably your best bet for help you'd actually recieve alot of feedback.