Since Brexit, trading via Amazon has been made even more complicated with the new treatment of VAT.
In 2020, 92% of businesses did not pay the correct amount of taxes and some didn’t pay any at all!
So what do you need to look out for?
You need to know where you are buying your products from! Which country? What are their charges? Is there any custom duty?
You need to know who you are selling to and which country the product will end up! Should you charge VAT?
The best way of knowing you are correctly treating each transaction is using an expert accountant in this area.
Every country has different charges and paperwork, its certainly not a one size fits all approach.
Amazon provide a complex summary sheets splitting out sales, costs and net balance. Not ideal when preparing the accounts and tax returns.
We process every transaction and allocate it to the correct category, working out the vat treatment and much more to ensure your submissions are 100% correct.
We never fail to deliver! (see what we did there….)
Anyway…..let’s leave the difficult admin to us and be assured that you never miss a deadline!
Part of our offering, you will receive online software, a fully qualified accountant, real time information with a profit and loss and balance sheet.
Please contact us on 0207 100 6011 or email us at [email protected] for a monthly fee quote.