Help on warning from amazon Individual Seller to select buisness
hello..!
Can someone help me out in this..
Today morning a recieved an email from amazon saying i choosed individual entity because i didn’t want to register any buisness to get involved in vat filing and all stuff,now amazon giving a warning notification in my display to change the entity for the verification of my account,its happening right after submitting bank statement for account verification,even i created my account 5 months ago,please someone come up with the solution
Seller_k2X0L9mVRT0pW
the Individual account is only for selling off second hand goods. Have you listed goods as New?
Seller_vDA16sXHVT3he
yes i listed 2 items as new
Seller_vDA16sXHVT3he
Seller_vDA16sXHVT3he
have you faced the problem or do you have solution for this?
Seller_k2X0L9mVRT0pW
selling New goods means you are classed as a business Amazon are correct to ask you to register as such. You then need to supply the UTR number that HMRC will give you.
Seller_QuM1AZgzfU9x4
If you are buying or making items with the intent to sell them then you are a business and Amazon will insist you register as such or they'll deactivate your account.
Registering as a business has nothing to do with VAT. It does though have to do with potentially paying tax on any profits - as much as we'd all like not to bother with that we don't really get the choice.
Seller_vDA16sXHVT3he
is it kinda procces of registering a buisness with authorities and then submitting filing on selected tax year or on selected filing cycle?😥
Seller_76AUwmqvSyRIM
OneStepSTORE - you sound like a business to me.
Seller_MT8rt0A2OpbCx
Seller_vDA16sXHVT3he
Register as a business with HMRC. You are buying to sell for a profit, so you are a business. You don't have to register for VAT until you reach the £90,000 threshold, unless you live or conduct the business from outside the U.K. (not just registered in the U.K. at a virtual office), in which case you need to be VAT registered straight away.
Once that's done, change your account to professional, go through verification and start selling legally, and, more importantly, within Amazon's terms.
Don't believe anything you read outside Amazon Seller University, or HMRC.
Seller_MT8rt0A2OpbCx
Seller_ZVAz3d5lZuGid
If the OP is a UK resident, they may be able to get a free short consultation with an accountant before any further commitments. It would be a good idea to delve into Seller university first and HMRC, so the advice makes some sense and the time isn't spent explaining a few terms.
@Seller_vDA16sXHVT3he Try to find an accountant with some Amazon experience.
