Another week has gone by and I have compiled the most interesting questions that were sent to me, in order to share them with other blog readers:
- When and how do I pay VAT on imported goods from China?
- What’s the best way to transfer money to eToro?
- Dropshipping and selling allowances on eBay!
- Where to get EAN codes to sell products on Amazon Marketplace?
- What’s the best way to sell to regional eBay sites?
- How to differentiate branded items from unbranded items when importing from China?
- Where to buy silver plated jewellery in small quantities?
- What to do when you lose your job and need to make money asap?
Without further ado, let’s get started!
I am a first time importer and I want to order from a company called Wisewell Holdings on Alibaba.
I can work out my import duty, which should be 0% on bunk beds, but my question is regards VAT.
How does this work; when and how do I pay it? Will I be contacted by HMRC?
As they’re quite heavy and bulky items (bunk beds), you’ll most likely ship them via sea freight, right? I can’t imagine how expensive it would be to ship them via a courier company!
So when the goods arrive at the UK port, you’ll be contacted by the freight company who are taking care of the customs clearance procedure for you and they’ll let you know what taxes are due. Then you simply transfer that money so your goods can be released from customs.
To avoid excessive charges at the UK port, I highly recommend doing the whole shipping & customs clearance procedure via one company – a freight forwarder, who can give you a FIXED door to door quote. The company I recommend is Woodland Global. They will give you a quote for such a shipment and that will be the fee you pay, plus of course the actual taxes. [Read more…]