Any one from UK and running online business ?

wkcalvin · Jul 15, 2021

Hi

I want to know running a online shop at UK will face many tax problem ?

If i import goods from China or Japan for resell, can I apply for import VAT exception ?

After I sold such imported products to customer (non UK), how to declare the VAT matter ?

I haven't any ideas about this, hope some UK users can help me.

bigmansyndrome · Aug 6, 2021

here you go: https://www.gov.uk/vat-registration

goose1234 · Aug 6, 2021

wkcalvin said:
Hi

I want to know running a online shop at UK will face many tax problem ?

If i import goods from China or Japan for resell, can I apply for import VAT exception ?

After I sold such imported products to customer (non UK), how to declare the VAT matter ?

I haven't any ideas about this, hope some UK users can help me.

You really need an accountant. VAT has become very messy with brexit even for accountants.

If your turnover is over £85,000 you need to register for VAT and submit and pay VAT every quarter.

I pay accountant to deal with it and is pretty expensive around £4000 a year.

andyframpton · Aug 9, 2021

goose1234 said:
You really need an accountant. VAT has become very messy with brexit even for accountants.

If your turnover is over £85,000 you need to register for VAT and submit and pay VAT every quarter.

I pay accountant to deal with it and is pretty expensive around £4000 a year.

You pay your account £4000 a year? Wow that’s a big sum. I hope your profit margin is really good.

But I totally agree if you are not sure about tax get one. That should save the hassle and hopefully some money.

polecat · Aug 9, 2021

You would better of just paying an Accountant to help you regarding this stuff but many tricks exist as someone who does Accounts myself for things to save you on Tax costs regarding China or othercountries.

goose1234 · Aug 9, 2021

andyframpton said:
You pay your account £4000 a year? Wow that’s a big sum. I hope your profit margin is really good.

But I totally agree if you are not sure about tax get one. That should save the hassle and hopefully some money.

Yea, that is for everything accounts wise including tax return, VAT etc. I don't need to do anything.

People under estimate VAT complexities after brexit if you sell in to different countries. I would rather she had the headache!

levigateway · Aug 10, 2021

Geez, you need an accountant to handle your vat filings. Hiring a knowledgeable accountant is way better than to be audited and be fined.

Any one from UK and running online business ?

wkcalvin

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