VAT on fees
Sorry to start another discussion on VAT but I am still confused.
I sell second hand books. This is the relevant part of the standard email that Amazon send every time I sell a book
Price: £12.00
Shipping: £2.80
Amazon fees: -£4.82
Your earnings: £9.98
There is no mention of VAT. Will I actually receive £9.98 or will Amazon keep 20% of £4.82
I am not registered for VAT
Thanks
2 replies
Seller_mxez2L8QjE6WW
If you go into your home page, under reports you can find 'Tax Document Library'; you can find VAT invoices/credit notes for VAT charged on Amazon's fees (VAT is not charged on your earnings). It seems to be from August onwards
As has been stated before on the forum, being VAT registered when selling second hand books is money for old rope. If you are VAT registered, you can claim back any VAT you have paid and since books are zero rated (important distinction), you don't have to charge & therefore remit any VAT on sales. You can claim back any VAT you have paid on packing materials, shipping, utilities, etc. & get a nice little cheque from HMRC every quarter. It's not much more onerous than the standard book-keeping that you have to do anyway.
VAT on fees
Sorry to start another discussion on VAT but I am still confused.
I sell second hand books. This is the relevant part of the standard email that Amazon send every time I sell a book
Price: £12.00
Shipping: £2.80
Amazon fees: -£4.82
Your earnings: £9.98
There is no mention of VAT. Will I actually receive £9.98 or will Amazon keep 20% of £4.82
I am not registered for VAT
Thanks
VAT on fees
Sorry to start another discussion on VAT but I am still confused.
I sell second hand books. This is the relevant part of the standard email that Amazon send every time I sell a book
Price: £12.00
Shipping: £2.80
Amazon fees: -£4.82
Your earnings: £9.98
There is no mention of VAT. Will I actually receive £9.98 or will Amazon keep 20% of £4.82
I am not registered for VAT
Thanks
2 replies
2 replies
Seller_mxez2L8QjE6WW
If you go into your home page, under reports you can find 'Tax Document Library'; you can find VAT invoices/credit notes for VAT charged on Amazon's fees (VAT is not charged on your earnings). It seems to be from August onwards
As has been stated before on the forum, being VAT registered when selling second hand books is money for old rope. If you are VAT registered, you can claim back any VAT you have paid and since books are zero rated (important distinction), you don't have to charge & therefore remit any VAT on sales. You can claim back any VAT you have paid on packing materials, shipping, utilities, etc. & get a nice little cheque from HMRC every quarter. It's not much more onerous than the standard book-keeping that you have to do anyway.
Seller_mxez2L8QjE6WW
If you go into your home page, under reports you can find 'Tax Document Library'; you can find VAT invoices/credit notes for VAT charged on Amazon's fees (VAT is not charged on your earnings). It seems to be from August onwards
As has been stated before on the forum, being VAT registered when selling second hand books is money for old rope. If you are VAT registered, you can claim back any VAT you have paid and since books are zero rated (important distinction), you don't have to charge & therefore remit any VAT on sales. You can claim back any VAT you have paid on packing materials, shipping, utilities, etc. & get a nice little cheque from HMRC every quarter. It's not much more onerous than the standard book-keeping that you have to do anyway.
Seller_mxez2L8QjE6WW
If you go into your home page, under reports you can find 'Tax Document Library'; you can find VAT invoices/credit notes for VAT charged on Amazon's fees (VAT is not charged on your earnings). It seems to be from August onwards
As has been stated before on the forum, being VAT registered when selling second hand books is money for old rope. If you are VAT registered, you can claim back any VAT you have paid and since books are zero rated (important distinction), you don't have to charge & therefore remit any VAT on sales. You can claim back any VAT you have paid on packing materials, shipping, utilities, etc. & get a nice little cheque from HMRC every quarter. It's not much more onerous than the standard book-keeping that you have to do anyway.
