❤️Automate everything with Osome, Save Time and Money ❤️Start with Free Tax Consultation, Get £100 off on accounting👇 osome.com/uk/referral/ecommerce-100/?ref=zainshah36&aff_name=Zain+Shah&coupon=
Could you explain bit more about LTD. In Sole trader,there will be personal allowance to deduct from the profit and to pay tax on remaining profits In LTD, financial year sales - All expense and any allowance to deduct from profit to pay before taxes like tax free range?
In Ltd, Money goes into your business bank, many director take out Their salary and husband/wife salary under personal allowance threshold, so they pay no tax or NI. This way almost £25k is out from company Tax free, On the rest of money sitting in Ltd, you only pay corporation tax, rate is 19% to 25%.Depends on sales. When corporation tax is paid, rest of the money can be paid Via dividends to directors, it works out more Tax effective at the end...
Do different sites like Ebay, Etsy, Amazon, Big Cartel and Bonanza automatically take VAT from you if you decide to sell things on there? If so how do you avoid or claim it back if you are not liable to pay any? I believe that I have a £1000 allowance per year and the items I intend to sell are so low in value they are unlikely to go above this amount.
Hello Zain, thank you very much for your videos, they are useful, I would like to ask you if Osome does the LTD registration, before doing your course you recommend having the LTD registration and what capital I may need to pay for the app, platform, monthly osome and to start sell on Ebay approx. I want to take the course and start creating my store as quickly as possible.
Hi mate, got 2 questions for you. That about VAT if you work with VAT registered LTD? Do Amazon take straight VAT amount from your sales? Or send you all money just without his commission? And second is, when you sell B2B on Amazon. Customer pays you straight with out VAT. How to work with it?
If you're VAT Registered and charge VAT to buyers, Amazon does not take VAT amount from the sales, it is up to seller to do VAT returns to HMRC. they send all the money (Amazon fee is DEDUCTED) .... With B2B they ask for VAT invoice to other business on the side may need to claim the VAT back or offset it against VAT they pay as a business. You can have free consultation with my accountants, if them all the questions, if you want to go with same, they will give you the price. Book call here. www.hizainshah.com/osome
Hey Zain, First of All Thank you so much for the valuable content. Additionally, I have a separate question if you can please help me with that;- Because I am not Vat registered(as a eBay start-up business) I cannot claim back that Vat, hence my price is not competitive, where as the other seller are selling the same product for better price. Now If I register for Vat voluntarily can I claim the Vat back or _does my early sales have to be minimum of £85,000 before I can claim Vat back?_ Your valuable reply will be very much appreciated. Thanks a million in advance. Souvik .
if your a sole trader and you get vat money back from amazon in fees, do you have to charge your customer vat, and do you pay the hmrc vat despite it been nelow 85 k threshold
tax and VAT and 2 different things, financial year is April to April. you pay taxes if you make over £12600 at the rate on 20% tax and 9% NI. and you pay VAT after you SALES goes over 85k in LAST 365 days.
Hi Zain Can I ask please? A requirement for registering with a Dropshiping supplier is to “You MUST have a registered business!” Being a SoleTrader would that meet their requirements please and why ?
Hi Zain, you said still need an accountant to hire some where at the end of video, is the Osome not do all things for you or just only do bookkeeping . Thanks Farid
With Osome you get everything. They take care of it. I said if you do everything by yourself in excel sheet, you might need accountant to make sure everything is fine and submit your returns, with Osome you get book keeping and accountant so all included.
hello sir can you give us any accountant number in uk because i create the uk limited company in uk for selling product on amazon so i need accountant number that submitted vat return and annual tax return on behalf of my company.
Hey Zain, The video was very informative and thanks for sharing this knowledge. Just got a question: Can a Pakistani register himself in HMRC and then register UK LTD from Pakistan?
❤️Automate everything with Osome, Save Time and Money
❤️Start with Free Tax Consultation, Get £100 off on accounting👇
osome.com/uk/referral/ecommerce-100/?ref=zainshah36&aff_name=Zain+Shah&coupon=
Explained in an exceptionally insightful and captivating way.
Amazing video Zain! Super simple language... keep it up!
Allah bless you brother I was really need this information ❤
What if you are in full time employment and also director of LTD company. How does the tax calculation work then?
Thank you very much for explaining this I try to close my Ebay business account because I thought all goes to tax thank you very much
Hello thanks for supporting us
What documents need to download for quarterly accounting
Thank you
Thank you so much.. very useful and well explained =)
Glad it was helpful!
Could you explain bit more about LTD.
In Sole trader,there will be personal allowance to deduct from the profit and to pay tax on remaining profits
In LTD, financial year sales - All expense and any allowance to deduct from profit to pay before taxes like tax free range?
In Ltd, Money goes into your business bank, many director take out Their salary and husband/wife salary under personal allowance threshold, so they pay no tax or NI.
This way almost £25k is out from company Tax free, On the rest of money sitting in Ltd, you only pay corporation tax, rate is 19% to 25%.Depends on sales.
When corporation tax is paid, rest of the money can be paid Via dividends to directors, it works out more Tax effective at the end...
Do different sites like Ebay, Etsy, Amazon, Big Cartel and Bonanza automatically take VAT from you if you decide to sell things on there? If so how do you avoid or claim it back if you are not liable to pay any? I believe that I have a £1000 allowance per year and the items I intend to sell are so low in value they are unlikely to go above this amount.
they charge VAT on their fees from you as you being consumer, you as seller have to pay your own.
Hello Zain, thank you very much for your videos, they are useful, I would like to ask you if Osome does the LTD registration, before doing your course you recommend having the LTD registration and what capital I may need to pay for the app, platform, monthly osome and to start sell on Ebay approx. I want to take the course and start creating my store as quickly as possible.
You are genius bro..
Thanks
Thank you for your videos, those are really useful, May I know howmuch the custom charges we would have? Maybe what percentage?
You can read here
www.gov.uk/goods-sent-from-abroad/tax-and-duty
Hi mate, got 2 questions for you.
That about VAT if you work with VAT registered LTD? Do Amazon take straight VAT amount from your sales? Or send you all money just without his commission?
And second is, when you sell B2B on Amazon. Customer pays you straight with out VAT. How to work with it?
If you're VAT Registered and charge VAT to buyers, Amazon does not take VAT amount from the sales, it is up to seller to do VAT returns to HMRC. they send all the money (Amazon fee is DEDUCTED) .... With B2B they ask for VAT invoice to other business on the side may need to claim the VAT back or offset it against VAT they pay as a business.
You can have free consultation with my accountants, if them all the questions, if you want to go with same, they will give you the price. Book call here. www.hizainshah.com/osome
Thanks 👍
Salam bro how much will cost osome its monthly or year ?
So what is recommendation for beginners amazon seller what should we do should we register our individual business ltd?
I 100% suggest going with LTD for Amazon.
Hey Zain, First of All Thank you so much for the valuable content. Additionally, I have a separate question if you can please help me with that;- Because I am not Vat registered(as a eBay start-up business) I cannot claim back that Vat, hence my price is not competitive, where as the other seller are selling the same product for better price. Now If I register for Vat voluntarily can I claim the Vat back or _does my early sales have to be minimum of £85,000 before I can claim Vat back?_ Your valuable reply will be very much appreciated. Thanks a million in advance. Souvik .
no, you can voluntarily register for VAT
Do we have to pay income tax to the us government? something like 1099k?
no there is treaty agreement between uk and us
if your a sole trader and you get vat money back from amazon in fees, do you have to charge your customer vat, and do you pay the hmrc vat despite it been nelow 85 k threshold
you can offset that VAT if you are registered as VAT seller.
do non vat pay income taxes in uk, what is considered a financial year ?
tax and VAT and 2 different things, financial year is April to April. you pay taxes if you make over £12600 at the rate on 20% tax and 9% NI. and you pay VAT after you SALES goes over 85k in LAST 365 days.
Hi Zain
Can I ask please?
A requirement for registering with a Dropshiping supplier is to “You MUST have a registered business!”
Being a SoleTrader would that meet their requirements please and why ?
for any business where you make money you need to declare nothing is exceptions, some people don't and it's just matter of time hmrc finds out.
Hi Zain, you said still need an accountant to hire some where at the end of video, is the Osome not do all things for you or just only do bookkeeping . Thanks Farid
With Osome you get everything. They take care of it. I said if you do everything by yourself in excel sheet, you might need accountant to make sure everything is fine and submit your returns, with Osome you get book keeping and accountant so all included.
@@hizainshah thanks Zain
if you are opening a limited company. do you need to still call hmrc and get the utr number
yes not required. but it's best to get utr no.
a letter will be sent out to your registered office address from hmrc
Zain im an irish sub could u please do a video on taxes ect selling online to the uk from the euro zone after brexit cheers👍🇨🇮🇬🇧
This Sunday 7pm bst, I have accountant coming in my live q&a. Hop in and ask as many question you want
Should I register a Limited company for dropshipping?
Yes less liability on you and it’s tax efficient.
Register it free and get 2 months free accounting
www.hizainshah.com/osome
What if I open an account on amazon fba as an individual?
Yes you can
hello sir can you give us any accountant number in uk because i create the uk limited company in uk for selling product on amazon so i need accountant number that submitted vat return and annual tax return on behalf of my company.
stay.osome.com/zain12 book call here
good luck mate
Thanks
Hi zain how can i contact you need some advice
Hey Zain,
The video was very informative and thanks for sharing this knowledge. Just got a question:
Can a Pakistani register himself in HMRC and then register UK LTD from Pakistan?