VAT for UK BUSINESS SELLING IN THE UK

[toptshirts]

Hi,

May sound like a dumb question but I can't seem to find any answers and eBay CS don't have a clue.

I have just registered for VAT as I am nearing the threshold. I have upodated my VAT reg number and manually gone through all my listings adding the correct VAT amount to each one. 

My question is do Ebay calculate or collect the VAT for me or do I still need to complete my own VAT return and send the correct amount to HMRC? 

If yes, can I do this using the quarterly sales report?

Many thanks in advance.

Joe

[papso22 · Accepted solution]

You have to do your own VAT return, recording your sales, purchases, input tax and output tax, and pay over the net to HMRC.  Whether the sales report gives you what you need is another matter.  Ebay's systems are not necessarily geared up to support a seller's obligations to HMRC.  

[toptshirts · Accepted solution]

That's great, thank you! Out of interest, how do other sellers keep their records? Are there any tips for someone new to VAT like myself?

[papso22 · Accepted solution]

Your best bet is to post on the business seller board, more people will see it and you should get some help from seasoned business sellers.