UK legal status
Hi. I am trying to set up my Amazon seller account. I am a UK based individual (born here and citizen here).
I do not have a registered business - I am a one man band importing goods (wholesale) and wanting to sell retail via Amazon FBA.
re: legal entity: both i) sole proprietor and ii) privately owned, require UK tax business info.
Am I not allowed to set up on Amazon FBA without being a UK registered business?
Thanks
16 replies
Seller_DTufFoxJuMU0M
You should be a uk registered business anyway.
As soon as you decide to buy something with the intention of making a profit then you a business and should be registered with HMRC as self employed, which will get you the UTR code that Amazon require.
Individual status is for people who want to sell off their old CD collection that they don’t listen to anymore…
Seller_QVpjrN1BsybDT
I may be wrong but I think you may be thinking UK registered business = Ltd Company . It doesn’t.
Seller_PUgTge8LPB8FY
You’ve slightly missed the point. In the UK, if you generate an income from business activities, you must register as a business with HMRC. This is a legal requirement to prevent tax evasion.
Seller_BS5lg2keRs2QO
HMRC has a threshold below which you don’t need to register. From memory it’s £1000 turnover but I’m not sure.
Amazon though has no threshold. Selling for profit means they require you to register with your business info. Usually that’s with your UTR as a sole trader or company info if a ltd company.
Seller_HB2MC8FR8Gmz5
Unless you are making net profits of well above £30k I would be suprised if a Limited Company was the best option from a taxation perspective, I believe you will pay a lot less tax as a sole trader. But the risk is your business includes your personal assets if you were to go bust.
