New UK Tax 2023: Online Sellers, Everything you need to know to Avoid Problems

[@hizainshah]

Register Ltd and business Bank account for £12 with Osome👇 stay.osome.com/ZainShah12

[@fevzioz7508]

Hi Zain I can't find your telegram account

[@DirectorsGuild]

Hi Zain. Thank you for this information. Vey useful. One question regarding VAT: If our online shopify shop is UK based, and someone from USA purchases our items. Do we still charge and collect VAT? Do we also have to pay USA taxes (per state) as required under Economic / Sales Nexus laws? (Since Shopify has physical presence in US, as well as the physical presence of various US based POD suppliers? Thanks.

[@8BallEyes]

Hey, quick question. I've recently set up a limited company and a business bank account through Tide. In theTide app it says, "Business details required", which I need to fill in. It's asking for my UTR number but I don't have one so does that mean I have to sign for self assessment? I'm fairly new to all of this so getting my head around it all.

[@ihorv44]

great job. this video helped me greatly to understand how UK tax system in e-commerce works.

[@jamesburton3172]

I am 100% committed to Zain, i have done my research and you are true to your word. "Very Happy with Service, really decent price and it's easier to manage and automate everything with Osome, I used other solutions in the past, those are not designed for e-commerce sellers, You have to be professional accountant understand those. Staff is really professional and always very helpful, Never going back". posted over a year ago.

[@stevedom1]

I spoke with OMose in Singapore they charge $2000 minimum NOT 12 pounds!!!!!

[@hizainshah]

You need to speak to Osome UK

[@karstent.66]

Thank you for this really helpful information! Thank you.... I am indeed about to start with eBay. And - your video made me prefering the Limiteds. Yet - for the very first start (I got 2 other ideas as well in my mind, who don't include eBay), I will start as soletrader first. Because, I consider it as more important to have items on sale and to get money in. Turning everything in a Limited will take place a little bit later. Eventhough some inner voice wants me to do it right now. But then I waste this day with administration work instead of listing an item.

[@wasipk1]

I'm selling on Amazon FBA, my question is as i don't live in UK and now Amazon want me to register UK VAT,i live in republic of Ireland but my company is registered in UK,So what option i have not to register VAT as my threshold is less than 85Thousand pounds,plz reply, thanks

[@hizainshah]

VAT threshold only applies to UK residents sellers, if you sell from overseas, You need get registered from first day. It’s the law

[@jkvaghani3010]

Man you clearly all the dough. Amazing ❤❤❤❤

[@TeddyFaceFiver]

16:20 Im not convinced thats correct. When you set up as a sole trader as well as being an employee, your employer still taxes your salary through PAYE but you have to make sure you save any outstanding because of your side hustles profits. Your employer doesnt just stop taxing you in the hope you save many thousands and sort it out with the taxman in april. You still get a P60 this is to prove the money you earned from your payrolled job, and the tax you’ve paid too. Unless im mistaken ?

[@hizainshah]

You’re right. You do continue to pay tax through Payee. And any profit from self employment will be taxed separately which you need to file it.

[@williamshufflebottom-k3t]

All your videos on business and Amazon and eBay are BRILLIANT there so clear and informative. There the best on KZbin.

[@hizainshah]

Thanks

[@repairaholic4858]

How do you avoid paying tax if your profits are £53K on a limited company? Would paying myself more to get the profits down be the only way to get under £50K?

[@basvh666]

did you find an answer

[@storytimewithanne]

Very useful information, thank you for sharing zain.

[@ahmadabubakarsultan800]

amazing sir. You are really providing the information which everyone wants to know.❤❤

[@hizainshah]

Thanks

[@ianjresells]

With Osome, do they charge more if you have both eBay and Amazon selling accounts under the same business.

[@hizainshah]

It’s depends on overall turn over.

[@suhailsangey4547]

Bro uve made everything clear, nice video

[@zainhanifchodhary3456]

On Ltd Company if we didn’t cross the limit 85000 did we still need a buying receipts for tax return? And where from we get stock buying receipts if we do dropshiping ? Thnx

[@MuhammadWaseemKhan-pg3vi]

Hi I have a question, I started selling on Amazon FBA in UK marketplace but I live Ireland and my business is not registered in UK,I am new, Now Amazon sent me mail to register myself as VAT in UK,So how can I do that? And what's the benefits of doing that, currently I didn't sell any unit as I just started and my product just arrived in UK Amazon warehouse.

[@Oyy-official]

Hi, Sadly, Today I got suspension of my eBay account. eBay demanding proof of delivery. Anyone guide me how can submit it to eBay. And how to make it. I have already putted tracking number in all orders. Please Please guide me. Thanks 👍

[@jameelahmed3833]

Thanks a lot zain. You are doing well. I am not Uk resident but my visa will expire in 2026. Can i start Ltd company?

[@ImpartiallySpeaking]

Important to distinguish those operating so called side hustles compared to private sellers who aren’t working but just selling personal belongings. Esp so where millions of ebay private sellers aren’t working or generating a second income and are merely selling their own personal belongings where their yearly earnings fall well below their personal tax free allowance. Another issue is that the news in todays press says private sellers earning over their ‘trading allowance’ need to complete a self assessment form. But the guidance of HMRC makes clear that the trading allowance relates to businesses (not private sellers who aren’t running a business). - and the HMRC guidance states they expect business owners to complete self assessment forms. (Not private sellers who aren’t running a business). This whole situation of the gov trying to coerce private sellers to change their status to being business owners is entirely unethical

[@kjm-ch7jc]

Please don't say "Each and everything" when I hear this phrase it reminds me of last phone scam I received.

[@furqanmuhammad1205]

Hi Zain, thanks for guidance. I wanted to know if I register a limit company and open seller account, can I use my personal credit card or I have to apply for a corporate credit card first.

[@gulfraz4276]

A Non resident can register as sole trader in UK?.very informative video

[@johncrabtree7709]

If your a sole trader and don’t earn over 12k how much national insurance do you pay ?

[@SummitSelfieSeeker]

Hi zain how does the tax work if you start up your own ltd company but are still earning with your employer. Does this then meen that your personal allowance for tax is for your company and your employer

[@thatuntolddreamer]

I have amazon us account but I had to pay tax can you tell me how I can save that tax ? From where can I get tax exemption number

[@fevzioz7508]

Hii zain I follow you from Turkey you give very good information

[@hizainshah]

⚠Note: I am NOT ON what's app, I am Not on Telegram. 1: All Products, course and services I offer.✅ 2: Ways to Contact me✅ 3: My Official social Media accounts Links✅ 4: My email address✅ This is ONLY on my Official website. www.hizainshah.com and [e-mail] ⚠⚠There are often scammers, who use my name and picture and leave comment to talk 1:1, try to sell some product or service or ask for money. It is not ME ✅✅ONLY ONLY ONLY✅✅ www.hizainshah.com and [e-mail] That's it. Nothing Else.

[@iwearf.9023]

Ok bro, kch Pakistan k logo ko free v das deo

[@hizainshah]

@@iwearf.9023 kzbin.info/aero/PL1ASud2plQsgOwDvza8vMzfqy4S-NQafn

[@iwearf.9023]

Thanks Zain bhai

[@marcusstaddon7096]

Hi Zain, very insightful video. I have question regarding ebay dropshipping automation. As per your recommendation i am using Super DS with SaleYee, Is there any software i can use to automate this process of orders and tracking numbers? Many Thanks.

[@TASSLOCK]

Great

[@sianevans2523]

Hello! If you are a business selling on eBay or third party platforms - Does the £85k vat turnover count as the total selling price including fees/commission or is it £85k what you actually make after fees? Thank you

[@hizainshah]

before all expenses

[@Dragongaming-si5nd]

Can a 16 year old sell on eBay? Zain brother

[@corneliucazacu4354]

Thanks for the video, gold information in this video

[@lucaszanzariniaraujo1110]

Amazing video ! Thank you .

[@celeste1561]

Really useful video Zan, many thanks :)

[@mahmudulhassankhan7383]

I'm looking a best advise here, I am non-uk ebay seller, recently I've got notice from HMRC thru ebay for VAT registration though only sold GBP2000! Is there really need registered VAT ID now (already removed my all UK listing by ebay)? if need as individual reseller which one will select LTD or Sole, Where from I'll get company ID? Thanks!

[@hizainshah]

As no UK seller, if you are selling in the UK market, you do need to get registration from the first day, £85k Threshold apply applies to UK resident sellers. Going as Ltd and Sole trader is personal choice. You should check my videos in which I talked about pros and cons.kzbin.info/www/bejne/aKuTq6ZphNalprc

[@SteveJones-gz4vd]

Great Video could you answer 2 simple questions for me. I take a small pension each year and intend to set up a sole trader in the new year on ebay, If my initial investment in stock, expenses , fees , packaging etc is greater than my profit can I offset ( minus number ) against pension income which is taxed at source , in other words gain a tax advantage on my taxed pension. Also I wish to sell both personal items and items on this sole trader account, is that allowed ? Many Thanks

[@rominarussph554]

Im sorry To bother I dont undertand. I purchase and Item to sell On my Amazon uk. I will pay VAT as a consumer. Then my ¨customer¨from Amazon Uk will pay VAT again for same item... 🤔

[@hizainshah]

Any VAT paid by you would come down as business expense, Your customer pays you VAT which needs to submitted to HMRC. You can offset it, speak to an accountant. www.hizainshah.com/osome

[@andreipopov4608]

Hello, Is it possible to change a eBay account which is registered as Sole Trader to a LTD company?

[@hizainshah]

Yes

[@ryancampbell9589]

Hi Zain, I have a full time job and just started as a sole trader dropshipping on Ebay. I'm not expecting to reach £12,571 within my first tax year. Am I right in saying that I won't have to declare any tax for that year as long as my turnover is below £12,571 even though I have a full time job? Hope that makes sense, many thanks.

[@hizainshah]

No, Wrong. £12571 is Personal allowance which already being used at full time job. Even you didn't had full time job, You always need to declare, even though the tax is 0 on it. Any turn over above £1000 needs to be declared.

[@vra1411]

Hi Zain, Hope you are doing well !Is it possible to convert personnel Ebay account to business ?Thanks

[@usamaashraf8867]

Yes

[@khizar4103]

This is for dropshipping also or not

[@top10flixclip]

suppose you are selling aliexpress to ebay dropshipping. Your total sales 25000£ . But you pay 18000£ for items and delivery. How tax inspectors identify your clear profit?

[@hizainshah]

You will submit £25k as rural money you received, £18k as expenses, you do need keep receipts. You file this with HMRC and £7k is profit in this case, if this is your only source of income then it’s under the threshold so tax you will pay will be £0 in this example. .. You pay tax on your profits after example..

[@top10flixclip]

@@hizainshah thanks you sir❤️ . How can we handle eBay court order cases for uk accounts? How we can minimize that risk?

[@rafialtalukdar6645]

Brilliant video

[@sergiyfordzyun3542]

HI.thanks for you video !!! for what period they (HMRC) have information about sele on ebay? it is necessary to submit a declaration from 01.01.2023 or 01.04.2022 ? thanks in advance for the answer

[@hizainshah]

Anything between April to April

[@sergiyfordzyun3542]

@@hizainshah thanks . and 2021 year too?

[@ishtiaqhussain8524]

I am a self employed taxi driver, I have already got a UTR number, how is it gona work for me? Does that mean I’m a sole trader ? I have a eBay personal account aswel where I don’t pay anything monthly but only pay per item when I sell

[@hizainshah]

you already are in next tax return you will need to include taxi income and this income too

[@ishtiaqhussain8524]

If I have the UTR number then can I upgrade my personal eBay account into the professional business account or do I need a registered business or business name for that?

[@saj.k2884]

Hi. Can I ask what subscription level should I select for Profitl and Zik Analytics as a total beginner?

[@hizainshah]

Use free trial, Try everything, I have enterprise one

[@saj.k2884]

@@hizainshah thanks. I have emailed you.

[@allinengineering8168]

great video

[@henrypawson513]

Hi Zain I've been dropshipping 3 months now! This is a very useful video that has helped me out a lot! Have a happy new year!

[@fevzioz7508]

Hii how are you I just opened my account which wholesalers do you use

[@SAYADUR750A]

Suggest us any website to make LTD

[@hizainshah]

Ltd can be made direct on Gov website.. it cost £12

[@minniememine7262]

Thank you for breaking it down 👊🏽

[@hizainshah]

Hi Ola, Gald to see you after long time

[@mubashersajjad786]

How to handle all of these from Pakistan? How to make PayPal from Pakistan? Please make video on it

[@hizainshah]

🆗

[@mubashersajjad786]

@@hizainshah thanks

[@hizainshah]

eBay and Amazon is not natively available in Pakistan..Best way is only if you have someone living in country where eBay and Amazon is natively available like UK, EU, US, Canada and Australia and use their details by partnering up with them.. Use their details to register the company, ebay amazon account ask them to open bank account.... You need local bank account, Paypal and Payoneer don’t work with eBay and Amazon… Online bank accounts like Monzo, Transferwise Etc get banned often and they hold money inside and don’t release it. Person who living abroad will receive money in thier bank account and they can send to pakistan via westrn Union Etc. There is no other reliable way… Most of people work on eBay and Amazon from Pakistan have someone living in west where these platforms are available… Or they work as VA on salary or shares.. Unfortunately if you don't have, there is 100% reliable way, some people may tell you otherwise, and they claim to get you account and bank account but honestly it's a lie, risky and unreliable.

[@makeitviral2622]

Can you be a taxi driver and a sole trader From what I understand taxi self employment is one thing and sole trader is something else so they wont mix

[@hizainshah]

Taxi is Self Employment and you're Sole trader already, When you do your tax return you can add more than 1 income, so 1 being taxi and other selling online...

[@makeitviral2622]

@@hizainshah i want to switch my business to LTD soon and be a cab driver as well can that work ?

[@hizainshah]

@@makeitviral2622 yes it does

[@makeitviral2622]

@@hizainshah how will my tax work?

[@hizainshah]

🤷‍♀️🤷🤷‍♂️

[@iwearf.9023]

Ok bhai

[@hizainshah]

0k

[@iwearf.9023]

Zain Bhai, one day u will be the hero

[@helloyoukant]

Do HMRC actually track your sales on eBay or is it just fake threats? I’ve been earning from all different affiliate sites for years now, not once have I ever paid tax on my earnings

[@hizainshah]

It is your legal responsibility to declare. You get away as long you get away. In short it’s crime you’re committing and publicly declaring that 😂