Seller Forums
Sign in
Sign in
imgSign in
ForumsHomeDiscussions
ForumsHomeDiscussions
imgSign in
user profile
Seller_b66s0QHhVFsHQ

New Seller Help With VAT

Hi everyone,

I’m a new seller on Amazon using FBA and my small business is registered in UK for Vat.

I’m confused with accounting on Amazon website, so i wonder if there is a simple answer to these questions.

1 ) When i get paid by Amazon for goods sold - does this payment include 20% UK VAT ? Ie - do i have to give 20% of this payment to HMRC on my quarterly vat return, or is vat already deducted by Amazon before payments are made to me?

2 ) Where do i find a breakdown of sales and costs and vat on Amazon website - it’s so confusing!

Any advice would be greatly appreciated.

Thanks !

53 views
29 replies
Account Setup
Tags:Payments
00
Reply
user profile
Seller_b66s0QHhVFsHQ

New Seller Help With VAT

Hi everyone,

I’m a new seller on Amazon using FBA and my small business is registered in UK for Vat.

I’m confused with accounting on Amazon website, so i wonder if there is a simple answer to these questions.

1 ) When i get paid by Amazon for goods sold - does this payment include 20% UK VAT ? Ie - do i have to give 20% of this payment to HMRC on my quarterly vat return, or is vat already deducted by Amazon before payments are made to me?

2 ) Where do i find a breakdown of sales and costs and vat on Amazon website - it’s so confusing!

Any advice would be greatly appreciated.

Thanks !

Account Setup
Tags:Payments
00
53 views
29 replies
Reply
0 replies
user profile
Seller_7VbclcPFFRTnc
In reply to: Seller_b66s0QHhVFsHQ’s post

If you are in uk and are uk vat registered, amazon payout includes the vat that you need to remit on your quartet return

All figures can be found in reports - tax document library as well as reports - payments - date range reports

I strongly suggest you speak with an accountant who is knowledgeable on amazon sales and vat

Edit - if you are in uk yourself , have you reached the £85k threshold yet ?

20
user profile
Seller_DTufFoxJuMU0M
In reply to: Seller_b66s0QHhVFsHQ’s post

I think you’re all getting pedantic and defensive.

Peter just meant it as a rough statement to explain the difference between flat rate and standard rate. That on standard rate you take 16.67% of your turnover (less vat from expenses) to the vat man, but with flat rate you pay a set fee. It was correct the OP who thought he owed 20% of his turnover to the Vat man

I am sure no-one who is vat registered is actually paying the vat man 20% or 16% of their turnover, and would be working the vat out correctly.

Lets not overcomplicate things for the sake of arguing and just agree to disagree and move on.

20
Follow this discussion to be notified of new activity
user profile
Seller_b66s0QHhVFsHQ

New Seller Help With VAT

Hi everyone,

I’m a new seller on Amazon using FBA and my small business is registered in UK for Vat.

I’m confused with accounting on Amazon website, so i wonder if there is a simple answer to these questions.

1 ) When i get paid by Amazon for goods sold - does this payment include 20% UK VAT ? Ie - do i have to give 20% of this payment to HMRC on my quarterly vat return, or is vat already deducted by Amazon before payments are made to me?

2 ) Where do i find a breakdown of sales and costs and vat on Amazon website - it’s so confusing!

Any advice would be greatly appreciated.

Thanks !

53 views
29 replies
Account Setup
Tags:Payments
00
Reply
user profile
Seller_b66s0QHhVFsHQ

New Seller Help With VAT

Hi everyone,

I’m a new seller on Amazon using FBA and my small business is registered in UK for Vat.

I’m confused with accounting on Amazon website, so i wonder if there is a simple answer to these questions.

1 ) When i get paid by Amazon for goods sold - does this payment include 20% UK VAT ? Ie - do i have to give 20% of this payment to HMRC on my quarterly vat return, or is vat already deducted by Amazon before payments are made to me?

2 ) Where do i find a breakdown of sales and costs and vat on Amazon website - it’s so confusing!

Any advice would be greatly appreciated.

Thanks !

Account Setup
Tags:Payments
00
53 views
29 replies
Reply
user profile

New Seller Help With VAT

by Seller_b66s0QHhVFsHQ

Hi everyone,

I’m a new seller on Amazon using FBA and my small business is registered in UK for Vat.

I’m confused with accounting on Amazon website, so i wonder if there is a simple answer to these questions.

1 ) When i get paid by Amazon for goods sold - does this payment include 20% UK VAT ? Ie - do i have to give 20% of this payment to HMRC on my quarterly vat return, or is vat already deducted by Amazon before payments are made to me?

2 ) Where do i find a breakdown of sales and costs and vat on Amazon website - it’s so confusing!

Any advice would be greatly appreciated.

Thanks !

Account Setup
Tags:Payments
00
53 views
29 replies
Reply
0 replies
0 replies
Quick filters
Sort by
user profile
Seller_7VbclcPFFRTnc
In reply to: Seller_b66s0QHhVFsHQ’s post

If you are in uk and are uk vat registered, amazon payout includes the vat that you need to remit on your quartet return

All figures can be found in reports - tax document library as well as reports - payments - date range reports

I strongly suggest you speak with an accountant who is knowledgeable on amazon sales and vat

Edit - if you are in uk yourself , have you reached the £85k threshold yet ?

20
user profile
Seller_DTufFoxJuMU0M
In reply to: Seller_b66s0QHhVFsHQ’s post

I think you’re all getting pedantic and defensive.

Peter just meant it as a rough statement to explain the difference between flat rate and standard rate. That on standard rate you take 16.67% of your turnover (less vat from expenses) to the vat man, but with flat rate you pay a set fee. It was correct the OP who thought he owed 20% of his turnover to the Vat man

I am sure no-one who is vat registered is actually paying the vat man 20% or 16% of their turnover, and would be working the vat out correctly.

Lets not overcomplicate things for the sake of arguing and just agree to disagree and move on.

20
Follow this discussion to be notified of new activity
user profile
Seller_7VbclcPFFRTnc
In reply to: Seller_b66s0QHhVFsHQ’s post

If you are in uk and are uk vat registered, amazon payout includes the vat that you need to remit on your quartet return

All figures can be found in reports - tax document library as well as reports - payments - date range reports

I strongly suggest you speak with an accountant who is knowledgeable on amazon sales and vat

Edit - if you are in uk yourself , have you reached the £85k threshold yet ?

20
user profile
Seller_7VbclcPFFRTnc
In reply to: Seller_b66s0QHhVFsHQ’s post

If you are in uk and are uk vat registered, amazon payout includes the vat that you need to remit on your quartet return

All figures can be found in reports - tax document library as well as reports - payments - date range reports

I strongly suggest you speak with an accountant who is knowledgeable on amazon sales and vat

Edit - if you are in uk yourself , have you reached the £85k threshold yet ?

20
Reply
user profile
Seller_DTufFoxJuMU0M
In reply to: Seller_b66s0QHhVFsHQ’s post

I think you’re all getting pedantic and defensive.

Peter just meant it as a rough statement to explain the difference between flat rate and standard rate. That on standard rate you take 16.67% of your turnover (less vat from expenses) to the vat man, but with flat rate you pay a set fee. It was correct the OP who thought he owed 20% of his turnover to the Vat man

I am sure no-one who is vat registered is actually paying the vat man 20% or 16% of their turnover, and would be working the vat out correctly.

Lets not overcomplicate things for the sake of arguing and just agree to disagree and move on.

20
user profile
Seller_DTufFoxJuMU0M
In reply to: Seller_b66s0QHhVFsHQ’s post

I think you’re all getting pedantic and defensive.

Peter just meant it as a rough statement to explain the difference between flat rate and standard rate. That on standard rate you take 16.67% of your turnover (less vat from expenses) to the vat man, but with flat rate you pay a set fee. It was correct the OP who thought he owed 20% of his turnover to the Vat man

I am sure no-one who is vat registered is actually paying the vat man 20% or 16% of their turnover, and would be working the vat out correctly.

Lets not overcomplicate things for the sake of arguing and just agree to disagree and move on.

20
Reply
Follow this discussion to be notified of new activity