Brexit 6 Month Review: A Difficult Start
Brexit has clearly not gone completely smoothly for merchants and businesses. However, sellers should not be too dismayed. It was never going to be an easy start to post-Brexit life, and the pandemic has certainly not helped. As the lockdowns end, companies grow more accustomed to the new procedures and the EU Ecommerce VAT Package brings the EU ecommerce rules more inline with the UK’s, we should see a more positive outlook by the end of the year.
Drop Shipping Not Delivering Profits Since Brexit
The first major change that Brexit brought about was shifting the responsibility for VAT away from the customer at the point of receipt and on to the company or facilitating market place at the point of sale. This meant that prices went up to account for the VAT. This is extremely problematic for drop shippers since they are obviously already working with narrow profit margins since they are reselling from a third party.
One-Stop-Shop Guide For Online Marketplace Sellers
If you mere use Amazon as a platform to showcase your products, then you can benefit from the OSS. This also goes for any sales an Amazon seller makes through their own website or online store. However, Amazon sellers and those who use an online marketplace to facilitate their trades through fulfilment cannot use the OSS for their sales.
How To Register For The OSS – Get A Quote Today
Each country in the EU will has got an electronic portal that you can access to sign up for the OSS. You will need to submit an application that will need all the relevant information, such as your VAT number and business registration and address. Once the application is completed the relevant tax authorities will check everything is in order before approving your registration.
VAT Returns: More Penalties For Failing To Use MTD
Making Tax Digital is one of the most ambitious tax initiatives attempted by the government. By April of next year, almost all business are expected to have integrated some form of digital tax reporting software into their processes. Presently, only businesses who...
Bricklink Building The Foundations For VAT Collection
Did you know that Lego is one of the safest investments in the world? Believe it or not, Lego had an average yield of 11% from 1987 to 2015. This meant it out-performed gold and the majority of stocks and bonds. But before you run off to buy a millennium falcon set,...
Sports Direct Under Fire From Tax Investigation
Sports Direct In VAT Dispute With EU Tax Authorities Following on from our last article that looked at tax investigations, it seemed a good idea to take a look at one of the biggest tax investigations of the year. The investigation in question is the dispute currently...
Ecommerce Business: Payment Methods
As you probably already know, we at J&P specialize in helping ecommerce sellers expand their business. Whilst we primarily do this through tax services and logistics support, our long history of working alongside ecommerce means we can also offer you advice on...
Tax Investigation: Compliance Checks Are Looming
It is common knowledge that the UK Government have invested unprecedented amounts in order to support businesses and the economy throughout the pandemic. Whilst this spending has been met with justified praise, we haven’t yet been told how they are likely to recoup...
The Changes To Amazon Fulfilment Coming In June
Regular readers of this blog might remember the FBA fee changes we mentioned briefly in our article on Amazon changes in 2021. As these changes come into effect from the beginning of June, now seems a good time to assess them in more detail. This article will look at...
