Applying for UK VAT what should I pay for VAT
Hello,
I’m a UK based seller and I’m in the process of applying for UK VAT. I’m confused on what to pay for VAT, is it a 20% of the total UK sales, or is it a 20% of the reimbursement I receive to my bank account from Amazon UK market?
If VAT is on total sales, which sales report I should use for VAT purposes.
Thank you in advance.
0 replies
Seller_7VbclcPFFRTnc
You need to speak with an accountant
No offence but if you don’t understand what figure you are paying vat on, it will not be straightforward for you and submitting and paying incorrect vat is a criminal offence
Seller_wqciCXuQbNS4p
I agree with the above, and making the assumption that you’re just starting out, why are you registering for VAT. Or are you intending to break the threshold in your first year?
We registered in our first year but had a sound business plan based on 20 years experience in the industry-first year figures determined that not to register would be the wrong course of action.
As I said, register if you feel the need to, but if you don’t, then you’re creating unneccessary work and unneccessary expense.
Seller_L2WLWf8N814M4
Hello @The_Secret_London,
Apart the valuable post and answers from other sellers if you want you can check on this page related to UK VAT on eCommerce legislation.
Regards
Nickolas
