Legality of imports from non EU countries by sole trader

[IndoEuro Interface]

Can anyone advice me on:

1. Is it legal for a self employed / sole trader to import goods (bespoke engineering products) from non EU Countries?

2. If it is legal, can he/she use different business names for importing such stuff from non EU Countries?

3. If the self employed / sole trader is a sourcing agent in UK who specialise in sourcing bespoke engineering products for customers in Europe as per their specifications & drawings from suppliers in Asia, then what is the legally correct documentation procedure?

4. What is the limit on turnover for VAT registration?

Thanks in advance.

Mangesh

 

[fxdreams]

I am no expert, but guess one will be along soon.

My understanding

1) Imports from outside the EU are Subject to V.A.T and Import Duty, there are exceptions, so check out the HMRC site for imports.

2) Use what business name you like, as long as it does not infringe on any other company name or trademark, you can just be T/A trading as.

3) If you are just doing the source work, then you'll not be importing, and thus you'll not be paying dues on imports, that will be down to the importer, or company thats importing.

4) 70K for VAT registration, or as soon as you wish.

I know you keep saying Sole Trader, but I think this has little or no effect on the situation, tax law is law, no matter size of company or how they are formed.

I think 100% of your answers can be found on hmrc.gov.uk

 

[IndoEuro Interface]

Thanks for your quick response. If I may ask a few more related questions:

At the moment, I'm filing my income tax returns under <Name> <Surname> account.

Now, I wish to use a Business Name for the importing business (My customers in Europe<--- Me as a Sole Trader<---My Supplier in Asia).

1. Do I have to inform HMRC about this new Business Name that I would be using to import?

2. Can an European Company place a Purchase Order on me as a sole trader for importing goods from Asia & can I as a sole trader place a Purchase Order on the Asian supplier?

3. Can I ask my customer in Europe to directly undertake import clearance of consignments being supplied by my Asian suppliers? Because if I do the import clearance, I will have VAT loss as I do not have VAT registration. (I pass on all original documents to my customers except for supplier invoice that would be replaced by my Invoice on which value the customer can pay import duties & VAT)?

Thanks in advance.