Muhammad Wamiq Junaid’s Post

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Experienced ACCA and Xero Certified Accounting Expert | UK Accounts & Tax Filing Expert | Intuit Quick Books Certified | Bookkeeping & Tax Preparation Expert | Driving 10X ROI & Accelerating Business Growth

Hello everyone, I wanted to share some important news for any businesses selling on Amazon UK. As of 1st January 2021, Amazon sellers are required to register for VAT in order to establish their business in the UK for VAT purposes. If you fail to do so, Amazon will collect and remit VAT in your B2C sales. This means that you will be required to pay the VAT amount to Amazon to account for the historical unpaid VAT on all B2C sales that fall under UK VAT on e-commerce legislation. One of my clients, "The Watch Trading LTD", recently received this notice from Amazon. Luckily, I was able to help them by applying for their VAT registration within a few hours. It's important to take action now to ensure your business is compliant with this new legislation. #vatregistration #vatcompliance #vatreturns #amazonsellers #amazonfba #amazonuk #ukbusiness #ukbusinesses #ukbusinessowners

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Muhammad Faizan Naeem, ACCA

ACCA Member | Management Accountant | Financial Analyst | Controller | Financial Reporting

8mo

How about non-resident companies are selling on Amazon UK? They will have to register for VAT with their non-resident companies?

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