Many new businesses are starting up selling products online, very often via EBAY or similar.
We offer advice to clients on accounting for these transactions and also help them with any VAT implications and the implications of buying products from other EU countries and the rest of the world.
Very often clients think that VAT is not an issue as their turnover is below the VAT registration threshold, but when goods are Imported from abroad then very often there is a potential liability of Customs Duty, Excise Duty and Import VAT.
Commercial consignments of £18.00 or less are free from customs duty or VAT but over this amount it is the responsibility of the importer to make sure the correct VAT and duties are charged and paid and that their business is compliant to legislation.
Please contact us if you require any further information or need help with your online business.