Tax report on Amazon for HMRC - how to obtain and which report?
I am just looking for some guidance on how to produce and which report to use for HMRC tax reporting. I am a sole trader and would like to do self assessment myself. Which report do i use on amazon please? Once report is produced which section would be the correct one for turnover?
Tax report on Amazon for HMRC - how to obtain and which report?
I am just looking for some guidance on how to produce and which report to use for HMRC tax reporting. I am a sole trader and would like to do self assessment myself. Which report do i use on amazon please? Once report is produced which section would be the correct one for turnover?
28 replies
Seller_ExO2KKCwIDvij
You can opt for "Cash basis" on your tax return. This basically means tax is calculated on your income (total disbursements for the period) minus the costs of running the business. You don't need an Amazon report for this.. It's probably best calculated from you bank transactions.
Seller_bcuyzvOiBaD6X
I am wondering the same too. I have downloaded the summary from the reports repository section which seem to be good. However the tax figure isn't 20% of the income figure? Anyone got any idea?
Seller_2EG6N58tYDYmC
I couldn’t find a single report that shows everything, so I downloaded all invoices from the Tax Report and manually checked which ones are claimable...which is a pain!
Seller_tRuvBEHDedp4q
You dont need to record or document every single individual transaction for HMRC. A total of sales is sufficient from which you subtract all business expenses.
I wouldn't leave it until year end though - I would download monthly report showing total of sales. Enter the total into a spreadsheet along with monthly expenses (Amazon fees taken from monthly invoice they send along with other invoices for business expenses) and save the monthly report as proof.
In this way you can see month to month figures and whether you are approaching the need to be VAT registered (which uses a scrolling 12 month period - if your turnover (not profit) hits £90k in a previous 12 month period you must register for VAT)
Then for self assessment its just a case of totalling the 12 months income and expenses from the spreadsheet and reporting the difference as your income. Obviously if you have other income from another job or other marketplaces you need add this information too.
Seller_IC5dxZRZpcM4T
For Self Assessment I would recommend going to the [Payments].[Report Repository] menu. Select [Report Type] as 'Transaction'. Then change the [Reporting Date Range] to 'Month' and run the report for ach month From April to March for the appropriate year in question. As it is now MArch 2025 I am assuming you are talking about the current Fiscal year running from April 2024 to March 2025.
Open all of the reports in Excel and consolidate all the data into a single list.
Add all the columns of data into a summary and ensure you exclude VAT from the figure were they are not meant to be included.
The net figures are then to be used for the income and costs for the period.
Warning, some of the columns include VAT and some Do not so familiarise yourself with the data and ensure the NET figures are used for reporting to the HMRC.
If in doubt ask an accountant. PS I am an accountant, but pleae dont ask me, im busy enough with trying to get my own figures right for the HMRC :-)
best of luck
