eBay and vat registered

[stevebills]

I was wondering how anyone going vat registered On eBay
Could compete with non vat registered sells as surely this would make the
Items more expensive and loss of sales very fast?

[stevebills]

Anyone help with this question?

[richie2065]

What rate Vat are you paying stevebills

[blueuk]

I'm 99.999% sure stevebills isn't vat registered.

[GreenBean]

Originally Posted by richie2065

What rate Vat are you paying stevebills

Think he is considering the merits of becoming Vat registered...

[stevebills]

I'm not vat registered and I never would go vat registered on eBay as it would put the prices up

[stevebills]

Originally Posted by richie2065

What rate Vat are you paying stevebills

Everyone pays 20 percent in the uk so that's a silly question

[stevebills]

Originally Posted by blueuk

I'm 99.999% sure stevebills isn't vat registered.

You would be right

[stevebills]

Originally Posted by GreenBean

Think he is considering the merits of becoming Vat registered...

I can only see the downside of vat registered like higher prices and more book keeping bills and no positives

[vetus]

Originally Posted by stevebills

Everyone pays 20 percent in the uk so that's a silly question

Interesting as I pay 12%

[GreenBean]

Originally Posted by vetus

Interesting as I pay 12%

Maybe you calculate better than the OP?

[vetus]

...


Maybe the OP should have a look at HMRC website at other options they have to reduce VAT liability

[Play]

Originally Posted by vetus

Interesting as I pay 12%

Yup! There's fix rate which is great, until you hit the threshold whereby you have to pay the full 20%.

[vetus]

Threshold is £250,000

[Play]

Originally Posted by vetus

Threshold is £250,000

I haven't hit it. Bear in mind this is 'turnover'. Any scaled up business would hit that in no time.

[stevebills]

Originally Posted by vetus

...


Maybe the OP should have a look at HMRC website at other options they have to reduce VAT liability

It's says 20% unless u sell child seats then it's 5%

[vetus]

You're talking rubbish - it's 12% for me so you can carry on paying 20% if you wish

[Atom]

I thought the limit for flat rate is 150k?

[vetus]

£250,000 for me

[Atom]

Originally Posted by vetus

£250,000 for me

Mind sharing?

[stevebills]

Originally Posted by vetus

You're talking rubbish - it's 12% for me so you can carry on paying 20% if you wish

So you pay 12% when you buy off a supplier and sell at 20% so that means you make a profit on the vat and it's all new to me all my suppliers charge 20%

[JamesNorth101]

Originally Posted by stevebills

So you pay 12% when you buy off a supplier and sell at 20% so that means you make a profit on the vat and it's all new to me all my suppliers charge 20%

I think you are misunderstanding how VAT works there quite a bit...

RE the flat rate
VAT accounting scheme for flat rate is
Threshold to join scheme - £150,000 or less
Threshold to leave scheme - More than £230,000

You can also get VAT retail schemes as well as a few others.

Its worth talking to an accountant about these sorts of things. The forum really isn't going to have the best advise.

You can also do your own research HERE