Recent content by morphe

  1. M

    Selling a Ltd property at a loss for quick cash

    So, would I pay tax on the difference? How much?
  2. M

    Selling a Ltd property at a loss for quick cash

    I purchased a house that I rent to my daughter through my Ltd company However my Ltd company is running short of money Can I sell the house to my daughter cheaper than I paid for it? I payed 180k and would sell for 150k for quick cash to my Ltd company This is genuine I thought I’d have the...
  3. M

    Alibaba payment options

    I pay using currencies direct, no fee and good rates, local is if your based in the country your buying from, I use this method with the Chinese suppliers I know well
  4. M

    Travelling international and what to claim

    Limited company. We want to walk around the shops to see what looks good and if we can do something similar. To get ideas.
  5. M

    Travelling international and what to claim

    Hi, I have never travelled abroad before with the business and was wondering what I can and can't do. I was thinking of going to New York in January for a week, I am planning to walk the shops to see what is popular over in the US. Is it ok to do this? is there a limit I can spend on hotels and...
  6. M

    Agents advice import from china

    Hi, Been a long time since I was last here on these forums. I have been using a company in yiwu called ejet. We went to meet them and walked around yiwu market but we thought that the agent who was with us was trying to bump the price up, it happened when the agent said a price and the...
  7. M

    Profits and tax question

    BPL VAT free code based on 2nd class posting letter upto 100g 33p large letter 100g 58p large letter 100-250g 82p large letter 501-75og £1.53 Small parcel upto 1kg £2.25 small parcel 1-2kg £4.60 Only 2 of the items i sell fall into the £4.60 price banding
  8. M

    Profits and tax question

    Based on your working out, if I go into VAT territory I will be make a loss on 1 of my items which is high volume using your calculations above. This one ASIN: B007PSP5GY Im already with OBA on a VAT free account, so for instance I pay 58p for a large letter weighing 100g VAT registered Your...
  9. M

    Profits and tax question

    The reason the payment is different is that some products are high volume sellers and I chose the FBA option, where amazon charge, picking fees, handling fees etc...and take their cut which leaves me with a smaller profit, I just thought profit was profit and started selling. some items, low...
  10. M

    Profits and tax question

    thanks both, found some really useful information from you. I could drop below the 79k by dropping low profit margin products, i have a few of them. What would you call a good profit, Ill give you an example. Item price: £3.37 Sale Price £8.49 Amazon pay me £4.09 profit 72p not sure how i...
  11. M

    Profits and tax question

    by the way, i work in a full time job as well, this business is just something extra lol my current gross earnings in my full time job is £18,500
  12. M

    Profits and tax question

    thanks james, i have been calculating at 15%, wondered why my figures never matched with theirs. so, am i better of registering another company before i hit the 79k. this then i can turnover 158k with 2 seperate companies.
  13. M

    Profits and tax question

    hash, i am a limited company, i wanted to start off doing my business properly so there would be no comebacks. i am a 1 man band at the moment.
  14. M

    Profits and tax question

    thanks James, is that why some of my competitors can sell that little bit cheaper? so being vat registered does have an upside. so, buying i claim the vat back and selling i pay vat like everyone else. A lot of my trade is Amazon who is 15% vat, based in Luxembourg.
  15. M

    Profits and tax question

    no bob, i thought when i get nearer to the 79k i would do it then, or do i need to act before? is there any benefits in being vat registered? for example i buy something for £1 and pay £1.20 inc vat, do i claim the 20p back?
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