Vat for amazon sellers

[ares8008]

hi.does anyone know what i have to do if iam getting closer to vat registration.iam selling on amazon amd almost reach the 77k maximum for uk fot not yet registered vat seller.if i want to avoid it i have to stop selling if not i have to pay vat and that gets complicated for me.any advice.if the only solution to get some partner in the business and split the turnover.thanks

[kathemmi]

Have you thought of buying a limited company & putting some sales through there(might work for you). If you take on a partner & continue to trade in the same name you will still be into vat.
In any event it's only the difference between the vat you charge & the vat you pay out on your stock & other expenses that you have to hand over to HMRC.
BUT don't try to circumvent the system without checking any option out with a qualified accountant first.

[ares8008]

i found out that flat rate VAT for retailers is 7.5%.If i can say iam retailer probably its good rate as ill lose only 0.9p of transaction.the think is i dont want to charge my clients vat i will pay it latter.

[GreenBean]

Seek PROFESSIONAL TAX advice.

You earn money.

You pay taxes.

You are in a country that has VAT.

You need to have all your ducks in a row to be VAT compliant.


HM Revenue & Customs: How and when to register for VAT

Read the above thread NOW

This forum does not do this type of advice.