Re: Any UK accountants out here? Haidukken arktech
it's about the names on the invoice... I'm dropshipping from Amazon to eBay, so in order to buy from amazon, I purchase under a different name, therefore my INVOICES are on a different name.
Now INVOICES are needed as a proof, that 80% if not more, of the money which came to your accounts, went for purchase of the sold product, therefore are an EXPENSE.
If you are not able to prove that 80% of your money went to EXPENSE, and were not spent for blackjack and hOEs, than you will have to pay tax on the full amount, which was incoming to your bank account.
Therefore you...to say politely, are in rather uncomfortable situation with HMRC? Actually, that will leave one in a good amount of debt with a tax office.
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