Well explained, just take note that the expenses have to be "allowable", different tax jurisdictions will state (as a means of making the system standard for different businesses) what expenses can be deducted to arrive at the taxable profit.
Well Done Sam, great work. Like the tip about making useful business purchases before tax year end to reduce the tax liability on your profit. Thank you.
This is brilliant info. thanks!! if I have another income (PAYE) for which I am paying 40% taxes, will I also pay 40% taxes on the ecommerce income? or only the corporate tax? thanks again!
Hi, do u need to provide proof like receipts for the expenses.. first time doing my tax on the new ebay side hustle tax. It's so daunting x thanks in advance x
I love your content bro, you are a smart man I'm an electrician by trade and I'm thinking of starting my dropshipping ecommence shopify ebay I'm still new to all this and I know I need to learn a lot more but I want to man, how many hour per day do you work can you still make money if you send a few hours per day in evening bro what's your opinion brother?
Hello guys please help i’m a lil worried cuz i bought an iPhone yesterday and i paid for import charges when i did the checkout for my order so when my package arrived to my country do i need to pay for taxes?? Please help guys🥺
@@SuccessWithSam what is the process here? I get my product sent ddp via sea. Can i just use the invoice from my supplier and reclaim or is it more complicated?
Is VAT not making you less competitive? let's be honest you can't just jack up your prices 20% and not expect customers to go elsewhere, how's that helpful for a business? You are telling me you are giving 20% VAT away and then paying additional taxes on the income generated at the end of the financial year? Let's say you sold something for £10 and made £2 profit, then you have to give away 20% for VAT, you can't sell your stuffs for £12 because customers will just go elsewhere, so you can't sell it for more than £10. How is that helpful for a business? I understand some businesses might be in the position to be able to pay the the %20 from their own pocket for the sake of remaining competitive but some won't be, what do you do? What does the government has to say about this?
Well explained, just take note that the expenses have to be "allowable", different tax jurisdictions will state (as a means of making the system standard for different businesses) what expenses can be deducted to arrive at the taxable profit.
Well Done Sam, great work. Like the tip about making useful business purchases before tax year end to reduce the tax liability on your profit. Thank you.
Glad you enjoyed it my friend!! Happy to help!
I was literally just researching taxes I'll have to pay with mt LTD and what I can claim. Thanks for the gems. 👍
You’re welcome 😊 … more detailed videos on the way!
@@SuccessWithSam I look forward to them!
This is brilliant info. thanks!! if I have another income (PAYE) for which I am paying 40% taxes, will I also pay 40% taxes on the ecommerce income? or only the corporate tax? thanks again!
Brilliant video bro,keep it up always love the content !!.
I was waiting for a tax video thanks Sam!!
You’re most welcome!!
Hi, do u need to provide proof like receipts for the expenses.. first time doing my tax on the new ebay side hustle tax. It's so daunting x thanks in advance x
If im doing eBay arbitrage, can i write off the cost of the product from Amazon as ‘inventory’
Is there a simple program to use online for margin scheme when selling used items on eBay? It is so bloody complicated and confusing.
I love your content bro, you are a smart man I'm an electrician by trade and I'm thinking of starting my dropshipping ecommence shopify ebay I'm still new to all this and I know I need to learn a lot more but I want to man, how many hour per day do you work can you still make money if you send a few hours per day in evening bro what's your opinion brother?
Very informative!!
Happy to hear it!
Well Explained
Thanks for the info man. What if I'm under £85,000 and Alibaba charged me 20% vat on my purchase. Can I take it back from HMRC?
Not an expert but are you vat registered? , you will get that money back
Thanks man
Is this similar for sole traders or is it different ?
Hello guys please help i’m a lil worried cuz i bought an iPhone yesterday and i paid for import charges when i did the checkout for my order so when my package arrived to my country do i need to pay for taxes?? Please help guys🥺
Can you reclaim vat on product costs from China?
Yep
@@SuccessWithSam what is the process here? I get my product sent ddp via sea. Can i just use the invoice from my supplier and reclaim or is it more complicated?
I wish to be an expert like you one day!👍🏻
Wishing you good luck on your journey Shayma!
No days off 👏🏻
Thanks bro!!
Ebay is taxing me 35+% wtf It says 95$ sold but 60$ on hold
Same
Vote to remove FED and IRS
Isnt the first £12k tax free ? Im confused
It's the first £1k what I've heard.
Thank you 🙏
You’re welcome Fareed! Happy to help
Is VAT not making you less competitive? let's be honest you can't just jack up your prices 20% and not expect customers to go elsewhere, how's that helpful for a business?
You are telling me you are giving 20% VAT away and then paying additional taxes on the income generated at the end of the financial year?
Let's say you sold something for £10 and made £2 profit, then you have to give away 20% for VAT, you can't sell your stuffs for £12 because customers will just go elsewhere, so you can't sell it for more than £10. How is that helpful for a business?
I understand some businesses might be in the position to be able to pay the the %20 from their own pocket for the sake of remaining competitive but some won't be, what do you do?
What does the government has to say about this?
It’s ridiculous and makes no sense. I agree with everything you said
🔥🔥🔥