The Wholesale Forums

[JasonT]

3. As I won't earn over £67,000 a year I won't need to register for VAT.


From what I gather, its not what you earn but what you turn-over. If you are selling DVD's the markup - especially on eBay - is notoriously is low. One famous eBay DVD seller closed down fairly recently after the forced introduction of free shipping.

Please can anyone clarify. Is it what you earn or your takings that are subject to VAT?

[JustCraig]

Originally Posted by JasonT

3. As I won't earn over £67,000 a year I won't need to register for VAT.


From what I gather, its not what you earn but what you turn-over. If you are selling DVD's the markup - especially on eBay - is notoriously is low. One famous eBay DVD seller closed down fairly recently after the forced introduction of free shipping.

Please can anyone clarify. Is it what you earn or your takings that are subject to VAT?

This may help clear a few things up regarding VAT.

VAT and Import Duty - Your Questions Answered

And yes your right.......profit margins on DVDs on ebay are very small. Volume is the key.

[danizdeman]

does VAT include the U.S.?

[Sphinx111]

Originally Posted by Jester

Yeah your right in saying that it has to be within 3 months of start of trading. I'll be registering within the next few days, as I can't wait to have that glowing feeling inside where I can say "I am self-employed, and I own my own business!"

J

you ARE your own business :P
as per "Sole Trader"

start.biz sounds like a sham/waste of money

[wwallace1]

thank you very much for posting this! as an inspiring importer, it will be very helpful