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Tax Question

Tax Question

Old Apr 6th 2014, 6:41 pm
  #1  
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Default Tax Question

Hi,

I hope someone can help me here. Have searched Google and the forums but cant find any answers.

I have a new online clothing business venture set up under an LLC. I will be selling product in the UK however will be using a dropshipper in the UK so i will never be importing goods as they will be printed and sent to the customer from a third party who in turn i will pay for his goods and services.

So my question is. What are the tax implications. Would i have to pay corporation taxes in the UK? Would i have to pay any VAT.

Hoping someone with a tax background can help me out here.

Thanks in advance

D
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Old Apr 6th 2014, 6:44 pm
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Default Re: Tax Question

Just to be clear...you're in the U.S?
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Old Apr 6th 2014, 7:03 pm
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Default Re: Tax Question

The company doing the drop shipping should charge you VAT on the goods they deliver in the UK. Normally if you were in the UK you would deduct that from the VAT you charged your customers and remit the difference to HMRC. If your business is outside the UK you would need to ask the drop shipper how they are going to do the VAT, but I am fairly sure if you are buying from them, and delivery is in the UK, they have to charge VAT.

If I buy from amazon UK with delivery to my US address - no VAT. If I have it delivered to my son in the UK - VAT is charged. I think that is similar to your business model.
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Old Apr 6th 2014, 10:17 pm
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Default Re: Tax Question

Originally Posted by hotscot View Post
Just to be clear...you're in the U.S?
Yes, Florida
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