A few questions :)

[Fusionhost Group]

Hello,

I have a few questions for all of you, and any information would be great :)

1.
Importing... If I import products such as exhaust systems, is their any fee's charged once the product enters the UK?

2.
Tax, when does my company have to start charging tax. I read on a government website that the company needs to earn 60k+ (p.a) before I need to charge tax, is this correct? (Just making sure).

3.
What program would you use to keep records of, customer information, order information, stock etc.

4.
I know of a few drop shippers but I am looking to increase my list, so if you know of any drop shippers for any products please can you let me know.

Kind Regards,
Jon :D

[multilingual]

Jon,

You can call the Customs & Excise information service to find out about import duty. The number escapes me for now but it is easy to find in a search.

What do you mean by 'charging tax'? I assume you mean VAT. You don't charge VAT until you are registered for VAT, which is compulsary once you reach a threshold or you can apply for voluntary registration if you wish. The threshold is based on turnover not profit.

JB

[Agri-Hire]

How old are you? About 12?

These are pretty basic things to be asking and if you don't even know what VAT is then I would suggest you go out and buy a few more books before you launch your new business.

You will be eaten alive if you don't watch out

[Fusionhost Group]

Yes sorry I did mean VAT.

-
Edit: I have already read the tax website, and a few books I have but I wanted to make sure that I understood it correctly.

[Asteeleleith]

Are you aware there are free courses that are run by the revenue and excise people.

They have them on everything from starting up a business to NI and tax.
The taxman can be a friend, and ae extremely helpful. They have an untold numbr of helplines as well.

Call them, get on some courses, don;t be afraid

Al

[Jayne]

Hi,

I didn't know anything about VAT/Tax or even how to do book work when I started in my first business...12 yrs on and i've not been eaten yet :lol:

Nothing wrong with learning as you go on, I didn't do any courses or anything. Libraries are great to find out all the info' needed and are free :D

Jayne

[Asteeleleith]

People

I am an engineer by trade, still learninig about business as i go, i am no epxert, but days do not pass without me learning some.

I call the authorities to say what i am doing just to be sure. And there is nothing wrong with that.

i know a lot more now/

If there are questiosn, then the forum the place to ask

Al