Importing from China to UK

Discussion in 'International Business' started by faustvasea, Feb 1, 2018.

  1. faustvasea

    faustvasea UKBF Newcomer Free Member

    Posts: 3 Likes: 0
    Hello

    My name is Christian, and I am student. I would like to start small e commerce business.

    What I want, to buy electronics from alibaba.com and to sell on ebay. But I am very confused about that.

    Can anyone give some some tips or steps how I can do. I already ordered some watches from alibaba, for £70, do I will need to pay tax to be released in Uk , if so how ? Also do I need Company name as well ?

    Thanks a lot.
     
    Posted: Feb 1, 2018 By: faustvasea Member since: Feb 1, 2018
    #1
  2. faustvasea

    faustvasea UKBF Newcomer Free Member

    Posts: 3 Likes: 0
    Could I have please all the steps . Thanks
     
    Posted: Feb 1, 2018 By: faustvasea Member since: Feb 1, 2018
    #2
  3. Nochexman

    Nochexman UKBF Enthusiast Free Member

    Posts: 1,396 Likes: 236
    Forget about paying tax - focus on selling!
     
    Posted: Feb 2, 2018 By: Nochexman Member since: Jun 14, 2011
    #3
  4. Mr D

    Mr D UKBF Legend Free Member

    Posts: 5,182 Likes: 504
    You need to be registered as a business - self employed or a limited company are common, each has its benefits and problems.
    You pay VAT and import duties when you import from outside the EU.

    Selling is the hard part, you will have competitors who are cheaper than you. And you will get returns under warranty when stuff stops working, requiring refund plus losing stuff in the post requiring refund. Factor that in your pricing.
     
    Posted: Feb 2, 2018 By: Mr D Member since: Feb 12, 2017
    #4
  5. faustvasea

    faustvasea UKBF Newcomer Free Member

    Posts: 3 Likes: 0
    I'm self employed registered, do I still need to register as a company. So when I have to pay tax and how when goods gets to UK borders, also to register got oeri number is asking me for company name, what should I do?

    Is that worth do to this type of business?
     
    Posted: Feb 2, 2018 By: faustvasea Member since: Feb 1, 2018
    #5
  6. Tom Gardner

    Tom Gardner UKBF Newcomer Free Member

    Posts: 26 Likes: 0
    Are you trading as a Limited Company or as a sole proprietor (Sol Prop)? If you registered as a Sol Prop then there is nothing else to do (unless you want to use a trading name, then just let HMRC know so that they can update their records).
    For the EORI, again this depends on whether you are a Sol Prop or a Limited Company. If you are a Sol Prop then just put your full name as the company or if you have a trading name then put that in.
     
    Posted: Feb 2, 2018 By: Tom Gardner Member since: Dec 9, 2017
    #6
  7. Mr D

    Mr D UKBF Legend Free Member

    Posts: 5,182 Likes: 504

    That's a big question that only you can answer.

    Yes you can make money importing goods from overseas and selling online. Whether you make enough to make a profit is down to you and your pricing.
     
    Posted: Feb 2, 2018 By: Mr D Member since: Feb 12, 2017
    #7
  8. Maple Sourcing

    Maple Sourcing UKBF Regular Full Member

    Posts: 297 Likes: 62
    It's worth a try. You will learn from your practices and grow.
     
    Posted: Feb 4, 2018 By: Maple Sourcing Member since: Oct 8, 2012
    #8