eBay Reseller - Self Assessment - China Import
Posted: Mon Jan 08, 2018 1:29 am
Hi, I started two years ago buying staff from Chinese eBay sellers and reselling it locally here in the UK.
I offer guaranteed next day delivery and 100% feedback, so some buyers prefer to pay a bit more (20%) for the commodity of having reliable items.
I started it as a hobby, but past year I started to make a bit more money so I decided to pay taxes for it.
I am doing the Self Assessment (as a sole trader/self employee) and I have simple books: cash in - cash out.
The problem here is that for some products (big ones) I paid Import VAT etc using DHL, but for the small quantities of small items they just arrived home without passing customs, so I did not pay any import VAT or taxes on those.
I keep all the paypal/eBay invoices for my self-assessment but, should I include this purchases that did not pass through customs? Is there any way to do it (or pay them now)?
I just want to do the right thing for the tax man.
THANKS!
I offer guaranteed next day delivery and 100% feedback, so some buyers prefer to pay a bit more (20%) for the commodity of having reliable items.
I started it as a hobby, but past year I started to make a bit more money so I decided to pay taxes for it.
I am doing the Self Assessment (as a sole trader/self employee) and I have simple books: cash in - cash out.
The problem here is that for some products (big ones) I paid Import VAT etc using DHL, but for the small quantities of small items they just arrived home without passing customs, so I did not pay any import VAT or taxes on those.
I keep all the paypal/eBay invoices for my self-assessment but, should I include this purchases that did not pass through customs? Is there any way to do it (or pay them now)?
I just want to do the right thing for the tax man.
THANKS!