|I will, Michelle, I will!|
|I make calls like this on a daily basis.|
|Me and my filing. |
BUY BUY SELL SELL!
- Amazon make you complete an online tax questionnaire so that you don't pay tax on US sales twice. It is less complicated than it looks so don't be put off.
- It is not necessary to set up as a Limited Company when you self-publish. Sole Trader status will be fine unless you end up selling a gazillion copies.
- Likewise, a business bank account is not necessary when it's a small publishing enterprise.
- Creating paperbacks is an expensive shebang. For a £7.99 book*, the writer/publisher gets 86p.
- Ebook royalties are better. Around 50% of the price goes to the writer/publisher. Plus there are less costs in setting them up too.
- Whilst income may be low, expenses are tax deductible - from printer ink to ISBN costs.
- Both Ingram Spark (paperback providers) and KPD (ebook providers) pay royalties around 90 days after sales.
- There are a shed load of ways you can spend money on a book in order to improve sales. Marketing companies, books on how to sell books, competition entry fees - some are worth it, some are not. Choose wisely.
- All of the above is based on my own UK experience. I imagine other countries are a whole other kettle of fish.
So there we are. Now I've printed and filed all my paperwork since April, I am feeling unencumbered and ready to crack on. I'm still on track for draft one of book two to be completed by Christmas, as well as being ready to begin writing Tilda#2 this time next year. Now all I need to do is concentrate on gin-soaked business lunches, adding shoulder pads to my tops and leading hostile takeovers of the board. Now hold my calls, damn it. I'm flying to Geneva at noon.
Have a lovely week, folks.
*There are lots of variables that affect cost such as cover size and page count. The price quoted is for a 8" x 5" novel with 324 black and white pages with Ingram Spark's 2017 prices.