Night Publishing decided to account everything in the UK, which means they’re reclaiming significant amounts of tax back from the US IRS to offset their being stiffed earlier this year for $5,000 by Amazon, who retrospectively adjusted their sales stats six months after they had paid Night the relevant royalties and Night paid those royalties to its authors.
Night Publishing will not reclaim any of Amazon’s error back from any of their authors. They have enough cash flow generated during 2011 to swallow the $5,000 loss, once Night reclaims their taxes from the IRS, which should happen soon.
Night has to account to Companies House and the UK Inland Revenue for the year April 2010 to March 2011, and they are pleased to announce they’d made a taxable profit of £330 during their first year.
Thanks to all who bought books written by Night Publishing authors. You helped in getting great new authors into print and taking their places into the literary world.