FLAT Rate & General VAT Rate
Hello,
I would like to consult your information regarding VAT registration. I plan to apply for VAT registration with HMRC in the coming days. As a result of my conversation with my accountant, he said that since I buy most of the products I sell in the UK market from the USA, I can register for VAT at a 7% flat rate. I know the pros and cons of the 7% flat rate.
My question is: If I register for 7% VAT, how can I prevent Amazon from deducting 20% from the products sold on Amazon? I want to pay 7% VAT, not 20%. Thank you.
FLAT Rate & General VAT Rate
Hello,
I would like to consult your information regarding VAT registration. I plan to apply for VAT registration with HMRC in the coming days. As a result of my conversation with my accountant, he said that since I buy most of the products I sell in the UK market from the USA, I can register for VAT at a 7% flat rate. I know the pros and cons of the 7% flat rate.
My question is: If I register for 7% VAT, how can I prevent Amazon from deducting 20% from the products sold on Amazon? I want to pay 7% VAT, not 20%. Thank you.
0 replies
Seller_RlZVPg3d6ZUGP
You cant - Amazon doesnt recognise the 7% flat rate
Seller_esvgLzKXw2YAl
I think you need have another conversation with your accountant, as you obviously don't understand how the scheme works.
The whole point of the various schemes, is to make your life easier, but not necessarily pay less tax.
If you buy from ANY company in the UK and they are VAT registered, they will charge you 20% VAT (apart from obvious exceptions).
That doesn't matter whether it's a service, such as Amazon, or buying stock and so on.
Seller_JkTq8VxPcrhoa
I have the same question and didnt get any satisfying answer till now, i hope someone from Amazon replies here to clarify things. Please keep posting if you get any latest information.
As far as i know, Non-UK residents can not choose flat rate scheme, 1 more thing is Amazon calculations doesn't have flat rate scheme in their system. So lots of confusion
