Individual seller, do I need to register for VAT?
HI
I am an Individual seller, recently had a clear out of old books (70) I thought I would post and sell. I received an email saying my electronic tax invoice for last month was ready. Does this mean I now need to register VAT details?
Any help would be much appreciated
Individual seller, do I need to register for VAT?
HI
I am an Individual seller, recently had a clear out of old books (70) I thought I would post and sell. I received an email saying my electronic tax invoice for last month was ready. Does this mean I now need to register VAT details?
Any help would be much appreciated
Seller_EOmLRMFX8Oo9x
If you are not selling for profit you don’t need to declare it to HMRC. Once you reach the £1,000 turnover then you do have to declare it
9 replies
Seller_gOlDFgS5Li5Jc
do you turn over £85 000 per rolling year if no then you dont need to register for vat
Seller_EOmLRMFX8Oo9x
If you are not selling for profit you don’t need to declare it to HMRC. Once you reach the £1,000 turnover then you do have to declare it
Seller_GUcBMinsp6VkF
Hypothetically, if I sold more books (a lot more) the £1,000 would be from the Amazon sales price before all the deductions, not what I make?
Seller_EOmLRMFX8Oo9x
Yes it is total turnover not profit and that is from all marketplaces, If you also sell on Ebay or other sites you have to take these into consideration
Seller_GUcBMinsp6VkF
Ok, thanks for your help with clearing this up.
Seller_DROodOAYHftnc
No, you do not need to be VAT registered.
You will get that email as Amazon do charge you VAT on your fees.
Are these books all your own personal items that you are selling secondhand, or have you bought items with the intent of selling on, even if secondhand ?
As soon as you start buying stock to sell on you are considered as trading and need to be registered with HMRC as self-employed (probably sole-trader), and Amazon as a Business Seller.
