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Amazon Europe for US Amazon Sellers with Kevin Sanderson
Amazon Europe for US Amazon Sellers with Kevin Sanderson
UK And Europe cf Canada
- register for VAT number
- And EORI number
- Ship stuff in
- You do need someone in the country to act as VAT agent
- Use an agency eg Avask - maybe £200 a quarter
VAT for American importers- to ask your tax advisor
- Ask about the flat rate scheme - this simplifies - if online retailer as SIC code 7.5%
- And also 1st year is simpler
- with VAT you have selling price and credits
- But there are more issues
- Eg someone else imports on their EORI number or VAT
- On the standard “scheme” take what you collect
- Subtract what you paid at the border
- If you’re US based, you don’t have a lot of credits
- Depending on cost of your product
- Tipping point is to do the flat scheme
How to make it less scary?
- Be wary of getting advice from Europeans as an American importing
- Use the Amazon VAT resources page for UK (before you talk to anyone in a company)
- Accounting for KPMG put together - a VAT questionnaire
Distance selling for Amazon Europe
You can sell €100K in Euros in Germany
- You can sell UK govt your VAT
- Easy to use flat rate up to £230K revenue
Currency fluctuations
- They don’t really fluctuate that much
- You’re only really talking about a modest amount of things
- Say you £2000 in sales
- Amazon subtracts £700 in fees in local currency
- Have PPC come out of account (avoid conversion fees if use credit card)
- You end up with say 50% in payout from Amazon
- That is what is subject to currency fluctuations
- You can hold in local currency if you want
Why expand in an economic contraction?
Maybe think of it not as expansion but as diversification.
- To expand you could go after hot products
- You could go after hand sanitisers and masks
- You could end with a container left!
- Focus on fundamentals
- Get your offer to more people!
- Even if your margins aren’t quite as good
- It’s additional revenue and cashflow
Less competition overseas
- Fewer aggressive tactics than in USA
Free Webinar by Kevin
Click on the link below to access
Amazon International Expansion
Related episodes from the AFBA podcast:
Importing to the UK from China with Neil Curran (freight forwarder)
Amazon Canada for US Amazon sellers with Kevin Sanderson
Selling in UK with Kevin Sanderson with Kevin Sanderson
View all episodes
By Michael Veazey
4.5
2626 ratings
Amazon Europe for US Amazon Sellers with Kevin Sanderson
UK And Europe cf Canada
- register for VAT number
- And EORI number
- Ship stuff in
- You do need someone in the country to act as VAT agent
- Use an agency eg Avask - maybe £200 a quarter
VAT for American importers- to ask your tax advisor
- Ask about the flat rate scheme - this simplifies - if online retailer as SIC code 7.5%
- And also 1st year is simpler
- with VAT you have selling price and credits
- But there are more issues
- Eg someone else imports on their EORI number or VAT
- On the standard “scheme” take what you collect
- Subtract what you paid at the border
- If you’re US based, you don’t have a lot of credits
- Depending on cost of your product
- Tipping point is to do the flat scheme
How to make it less scary?
- Be wary of getting advice from Europeans as an American importing
- Use the Amazon VAT resources page for UK (before you talk to anyone in a company)
- Accounting for KPMG put together - a VAT questionnaire
Distance selling for Amazon Europe
You can sell €100K in Euros in Germany
- You can sell UK govt your VAT
- Easy to use flat rate up to £230K revenue
Currency fluctuations
- They don’t really fluctuate that much
- You’re only really talking about a modest amount of things
- Say you £2000 in sales
- Amazon subtracts £700 in fees in local currency
- Have PPC come out of account (avoid conversion fees if use credit card)
- You end up with say 50% in payout from Amazon
- That is what is subject to currency fluctuations
- You can hold in local currency if you want
Why expand in an economic contraction?
Maybe think of it not as expansion but as diversification.
- To expand you could go after hot products
- You could go after hand sanitisers and masks
- You could end with a container left!
- Focus on fundamentals
- Get your offer to more people!
- Even if your margins aren’t quite as good
- It’s additional revenue and cashflow
Less competition overseas
- Fewer aggressive tactics than in USA
Free Webinar by Kevin
Click on the link below to access
Amazon International Expansion
Related episodes from the AFBA podcast:
Importing to the UK from China with Neil Curran (freight forwarder)
Amazon Canada for US Amazon sellers with Kevin Sanderson
Selling in UK with Kevin Sanderson with Kevin Sanderson
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