LTD or LLP?
Ok so we are due to VAT register and it’s about time my business partner and I officially had both of our names on the business (previously just me as a sole trader).
In terms of what Amazon accepts, wheat is the easiest route? LTD or LLP? Because I’ve seen so many horror stories on here of closed accounts and I’m really scared to even attempt to change from a sole trader.
I know I need an accountant to help make the ltd or LLP decision but in terms of easy transition on Amazon. Which is best?
Btw I’m highly uninformed on anything other than sole trader at this point. Bothering info as I go now.
Thanks
Sorry for being so naive.
Seller_7VbclcPFFRTnc
I can’t answer re Ltd - someone else maybe able to
I initially registered on amazon - just UK and EU many years ago as a Sole Trader with my email address
Then a few years after, changed to a partnership with no problems. I just had to upload the new Partnership UTR number and add both partners details to the account as beneficial owners which required verification of passports etc and add the new bank account
I still use the same email address that was registered from day 1
double check with your accountant re VAT registration when changing legal entity too
6 replies
Seller_7VbclcPFFRTnc
both are the same for amazon in terms of verification
i’d focus on what your accountant recommends - especially if you are not married / related etc (or maybe even more important if you are lol )
Seller_ypI4HgDJGCNUy
Thank you
It’s worth mentioning that we sell in UK under my name and email and USA and AUS under my name but my partner’s email. All accounts linked correctly as global accounts etc.
Is this any issue when trying to convert each marketplace to LTD or LLP?
Just from the Amazon point of view.
Thanks
Seller_7VbclcPFFRTnc
I can’t answer re Ltd - someone else maybe able to
I initially registered on amazon - just UK and EU many years ago as a Sole Trader with my email address
Then a few years after, changed to a partnership with no problems. I just had to upload the new Partnership UTR number and add both partners details to the account as beneficial owners which required verification of passports etc and add the new bank account
I still use the same email address that was registered from day 1
double check with your accountant re VAT registration when changing legal entity too
Seller_ypI4HgDJGCNUy
Thank you alot for the help. Knowing you’ve done a partnership and succeeded means a lot. Fingers crossed then.
I’ll get any serious info from our accountant with the VAT and the LLP etc.
This helps clear up the Amazon side of things though.
Seller_DROodOAYHftnc
Google is your friend and the HMRC website - you need to do some of your own research so you do understand the implications and requirements of what you plan to do.
