Vat question
(Uk seller) ive recently signed up for VAT, i know this might seem silly but think ive been making a mistake. I didnt realise amazon was taking the 20% vat as "product tax" and paying it to HMRC. So was working out my earnings and deducting 20% from the income i recieved to pay in vat or take away from the vat i had been charged. Basically paying 20% on all items & 20% of my overal earnings.
Have i been making a mistake? Seems like it
Vat question
(Uk seller) ive recently signed up for VAT, i know this might seem silly but think ive been making a mistake. I didnt realise amazon was taking the 20% vat as "product tax" and paying it to HMRC. So was working out my earnings and deducting 20% from the income i recieved to pay in vat or take away from the vat i had been charged. Basically paying 20% on all items & 20% of my overal earnings.
Have i been making a mistake? Seems like it
4 replies
Seller_WBnGS7Ix3XiDX
Sorry, Amazon says there was personal info, but there wasn't. I was just offering info, but forget it if it says there was some personal data.
Good luck
