Recent content by Dropshipping2021

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    VAT Advice Please needed, accounting...Ebay Dropshipping

    I'm still considering this. It is ofcourse easier. I'm just running the maths to see what is worthwhile... I have an abundance of suppliers tbh and I'd be confident of hitting £150k+ for next 12 months.. I've intentionally been slowing it down to avoid vat registration. Although the issue...
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    VAT Advice Please needed, accounting...Ebay Dropshipping

    Postage costs included by the Supplier. Yeah I do my accounts, now on quickbooks (finally!) its not a great profit at all I know. But its also quite an easy business to run....now, laid the ground work being laid a few years ago. I value a work life balance...no wife no kids... Ebay are the...
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    VAT Advice Please needed, accounting...Ebay Dropshipping

    Thanks for this. I know it directly affects me but its not really in my nature to report someone. Although I don't know given the amount of loopholes in the system whether anything illegal is taking place. Whilst I'm a UK citizen I'm currently abroad on a extended holiday ironically in a...
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    VAT Advice Please needed, accounting...Ebay Dropshipping

    Why 16.66 not 16? 20% of 19.99 is fractionally under £4. Hence £16 surely? Thanks for your response. It doesn't leave me with much at all your right if my above calculations are right and hence I might just slow down the business to avoid reaching the threshold. I'm already towards the higher...
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    VAT Advice Please needed, accounting...Ebay Dropshipping

    Wouldn't that mean my first calculation is correct? Surely? 19.99 (Inc vat) means 4 is VAT on product sold. I received 16.90 after ebay costs. And pay 13.99 for goods. Ebay VAT on selling costs is 0.52, Cost of product VAT is 2.33, so total is 2.85. The VAT burden is therefore 1.15. My...
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    VAT Advice Please needed, accounting...Ebay Dropshipping

    I have an ebay Dropshipping business and could hit the UK VAT threshold in a few weeks time. I'm trying to work out whether registering for VAT may actually prove unviable and therefore may downsize the business to avoid hitting the threshold. Its quite a high turnover business but as with many...
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