Do we have to sort our own tax out?
I am looking to start selling my first item on here really soon (once I have got all the kinks sorted out) and I am not sure if we have to sort our own taxes out or if Amazon do it
Do we have to sort our own tax out?
I am looking to start selling my first item on here really soon (once I have got all the kinks sorted out) and I am not sure if we have to sort our own taxes out or if Amazon do it
51 replies
Seller_lljyzgTxr5fgI
Amazon is a selling platform, not an accountant. Taxes are very much your own responsibility. Amazon does provide some integration on things like VAT but given your apparent lack of the basics, before you start selling anything then I would very strongly recommend that you visit the Seller University pages and learn the basics otherwise you will have a whole heap of problems (and likely a suspension as well).
This is the Seller University link:
Seller_ILTNDCj7DXuua
I would very much take @Retro_Emporium’s advice and go through seller university. Selling on Amazon has a lot of unique problems which can easily be avoided with a bit of learning before you jump in.
If you get things wrong at best Amazon will suspend your account at worst they will keep your money and your stock if its in FBA
Seller_DROodOAYHftnc
Oh goodness - I suggest you stop before you go any further and be sure you know what you are dong and have everything set up.
First of all, are your registered as self-employed with HMRC (sole-trader; partnershp; limited company) ? - and if limited, do you know the all that is required and involved in having a ltd. co. ?
You clearly don’t know what you are doing if you are having to ask a very basic question.
That is not a wise decision, and not harsh words from some long-standing, experienced sellers on here. Selling on Amazon is a whole, and quite a complex set up, with many metrics to meet. If you don’t read seller university you will likely fall at the first hurdle as you will not know what Amazon expect of you.
Seller_7VbclcPFFRTnc
Just to add what others are saying re the whole seller university thing
There are many sellers who post here who have had bricks and mortar shops and other ecommerce sales for 20 odd years and could give Delboy a run for his money when it comes to selling but they all say the same, amazon is a whole new ball game with rules, regulations and policies that make entering the secret service look easier lol
Definitely go through them, even older sellers such as myself with 12+ years on here have to familiarise ourselves frequently with the ever changing policies
Seller_3h73Wv2FjIws0
This is my fav post of the year so far.
Seller_mPemhG9cHWctM
I use Xero as my accounting software and an app Link My Books reconciles my invoices and seperates all the VAT liability etc and its like 50 quid a month, uses both eBay and Amazon
Seller_FGrlSKDjwty1z
I never went through seller university and have been selling on here for around 4 years. It has got harder though with all sorts of issues relating to bots etc. Seller university does not protect you from them all but is certainly worth thinking about.
You do need an accountant though if you are serious.
It is easy to have your account deactivated when you first start out. We never did or have and some issues are easy to avoid. Amazon suppies the tax information if you know where to look for it…
Seller_VJFloi7Cs0iaR
I know what I’m doing, I’ve seen the videos and paid the Gurus.
The Lamborghini has been ordered
What is this ‘Tax’ you speak of?
Seller_WIndmNYDp7rQF
Next thing they will be asking is “why is Amazon taking a portion of my sales payments”
Seller_DROodOAYHftnc
As I said earlier - " What is the betting the OP never comes back !" - though it would be good to know how they do get on ! - probably because they really have no idea what they are getting in to, but don’t like the truth /reality.
The title of the thread alone shows they don’t have a clue about running a business.
