wrong legal entity
Hiya,
Wonder if anybody can help?
Set up a selling account last October to clear a ton of personal books, was going ok and I was offered books to purchase- which I did - listed and am still selling them.
When I set the account up I registered it as individual.
Since set up I have been back and forth with seller support as they wanted time to verify our bank details (they stated they didn't receive these till 18th December, which actually they had in October) - seller support pushed this forward to the verification team who have now come back to me with this...
The verification of your bank account is on hold due to the reasons provided in this message.
We are contacting you because you have incorrectly selected the individual legal entity during registration of your Amazon seller account.
So my questions are what shall I do?
I can set up on HMRC as a sole trader (not that that's legally needed as profits since opening the store are no way near the 1000.00 HMRC are interested in)
I can set up a limited company?
I can go back at amazon and state I'm just an individual?
I just would like some advise on the next step that amazon would be happy with.
All the best
wrong legal entity
Hiya,
Wonder if anybody can help?
Set up a selling account last October to clear a ton of personal books, was going ok and I was offered books to purchase- which I did - listed and am still selling them.
When I set the account up I registered it as individual.
Since set up I have been back and forth with seller support as they wanted time to verify our bank details (they stated they didn't receive these till 18th December, which actually they had in October) - seller support pushed this forward to the verification team who have now come back to me with this...
The verification of your bank account is on hold due to the reasons provided in this message.
We are contacting you because you have incorrectly selected the individual legal entity during registration of your Amazon seller account.
So my questions are what shall I do?
I can set up on HMRC as a sole trader (not that that's legally needed as profits since opening the store are no way near the 1000.00 HMRC are interested in)
I can set up a limited company?
I can go back at amazon and state I'm just an individual?
I just would like some advise on the next step that amazon would be happy with.
All the best
4 replies
Seller_mxez2L8QjE6WW
The individual selling plan is for selling off your own possessions. By purchasing books to re-sell you have become a business
Seller_esvgLzKXw2YAl
You are aware that it's not profits of £1000, but sales of £1000?
Simply because if you are selling something off to get rid of it, there is no cost associated with it from a profit perspective. You are not trading, to make a profit, but to sell of some old goods you have.
There are also limits on how much you can sell as a private individual on Amazon.
If you have listed anything as new, then Amazon will believe that you are selling as a trader.
So if you are just getting rid of some old books etc, then your far better off just selling them on Ebay, Abe etc. Amazon is simply no longer friendly to individuals. And not particularly friendly to traders either.
If you wish to go ahead and are not planning on actually trading, then you need to register as self employed. Not a Ltd company.
Seller_ZVAz3d5lZuGid
If you have bought stock to sell on for profit then you are no longer an individual seller selling off your own personal items. You MUST register with HMRC as sole-trader, provide Amazon with your UTR, and have a BUSINESS seller account on Amazon - the legal entity. Once you have received your UTR you will need to ask SS to open up the option to add your UTR and change the legal entity.
You do not need a Ltd company.
