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Raise The Bar Higher When Selling in Amazon Europe !

You already know Europe is a tremendous opportunity – 340 million online shoppers and counting. It’s the third-largest eCommerce market in the world.

Even better, you can approach five major countries from a single marketplace – Amazon Europe.

Now of course, starting to sell in Europe and selling successfully are entirely different matters.

In this Guide E-book from Payoneer you’ll get some golden nuggets that will help you to start selling in the UK, France, Germany, Italy, and Spain. Learn how to:

  • Win placement in the coveted “Buy Box”
  • Handle fulfillment throughout the continent
  • Get paid from any Amazon marketplace – simply and quickly
  • Stay on top of VAT collection policies

And much more!

Ready to start selling? Go straight to our free eBook.

What Will You Need To Open A Business Payoneer Account?

These FAQ’s will help you during your Payoneer’s onboarding process to get approved as quickly as possible :

Documents

Company Verification Documents.
Please pull certificate of incorporation from Companies House and upload to Payoneer portal.

Company Address Verification

Please pull certificate of incorporation from Companies House and upload to Payoneer portal.

UBO Questionnaire

Please complete all information for UBO’s in the business holding 25% or more in shares.
If the company does not have 4 UBO’s, please leave additional UBO Q’s blank.

UBO ID

Please upload photograph of passport or driver’s license, ensuring full ID is shown, with no glare/distortion of image.

Ensure that this image is uploaded as a JPG photograph. PDF scans cannot be accepted. PDF scans converted to JPG cannot be accepted.

Business Details Questionnaire

Please complete details required.

URL

Please enter the URL of your website/web store/marketplace store.

Executive Manager ID and Questionnaire

Do not complete unless the individual managing the account is different person to the UBO of the business.
If a different person, please complete this section in the same way as UBO section.

Bank Statement

Please upload a photograph of a recent bank statement (from within thelast 3 months).
Please ensure that address, full bank details and transactions are shown in photograph.
If any additional information is requested, you will be notified via email. Please complete this as soon as the request is made.

Review

Please ensure all documents are uploaded correctly as above.

Once these documents have been uploaded correctly, please email launchese@payoneer.com stating that you have uploaded the relevant documentation and that you are waiting for your account to be reviewed.

One of the team will then review your account for you and the account will be opened within 1-2 business days.

Changes to UK VAT You Need to Know About In 2021

Come 1st January 2021, numerous changes are coming to UK VAT that will have a significant impact on your e-commerce business. Agility is an essential part of being an entrepreneur, and Launchese can provide you with the information you need to stay on top of changing UK VAT regulations. This article will discuss the changes taking place and what you need to do right now to stay in compliance. 

Dropshippers Will See a Change in How VAT is Calculated

Instead of imposing VAT on items when they are imported into the UK, you will now need to pay VAT at the point-of-sale (POS). Whether your business is in or outside of the EU, this new rule still applies to you. For companies that sell via online portals like Shopify, your store payment gateway is your POS. However, you will likely not be able to add VAT at checkout. 

ACTION TO TAKE NOW: Adjust your listed sales prices to incorporate VAT. To calculate the new prices, divide your current sales price by 6. For example, if the current price is £12, divide it by 6, and you will get £2. This means your product is now being sold for £10 + £2 VAT.

VAT Registration for Dropshippers is Changing

The old threshold of £85,000 for VAT registration has been eliminated. If you are selling directly to UK customers (not via an OMP), you need to apply for VAT registration, regardless of sales turnover. This applies to both companies within the UK and overseas businesses.

ACTION TO TAKE NOW: If you have not already done so, you need to apply for VAT registration on 1st January 2021. 

Examples of New 2021 UK VAT Laws for Dropshippers

A few quick examples of how the new UK VAT laws may affect your dropshipping business:

  • UK Suppliers to UK Customers: If your business is VAT registered, collect VAT at POS. Check here for the UK VAT rates. If your supplier is VAT registered, you can reclaim VAT on your UK VAT return. 
    • UK businesses can still register for VAT when the taxable turnover reaches £85,000.
    • Non-UK businesses must register for VAT regardless of the turnover threshold. 
  • UK Suppliers to EU and Non-EU Customers: Sales to EU customers will now be considered exports from the UK, and you are not required to collect VAT. 
    • UK businesses can still register for VAT when the taxable turnover reaches £85,000.
    • Non-UK businesses must register for VAT regardless of the turnover threshold.
  • EU VAT: The importer must pay VAT upon import until 30th June 2021. Beginning 1st July 2021, EU VAT will be collected at POS. You will be required to register in at least one EU state and submit a non-union OSS Return.
  • EU Suppliers to UK Customers: If your business is VAT registered, collect VAT at POS. You will not be able to reclaim the VAT from EU suppliers on your UK VAT return.
  • EU Suppliers to EU and Non-UK Customers: You do not need to collect UK VAT. 
  • Non-EU and Non-UK Suppliers to UK Customers: You will need to collect VAT at POS and be registered for UK VAT starting 1st January 2021. 

While this all may seem a little confusing, you don’t need to fret. If you already dropship or plan on dropshipping to UK customers, just be sure to register for UK VAT and adjust your listing prices immediately. Launchese users get premium service from our partner Drophippo

For more information on how the UK VAT changes affect you, review the HMRC’s VAT guidelines and the EU’s VAT guidelines. Just remember that while it may be a lot of work to manually change the prices of your products, the costs involved with avoiding paying UK VAT will be much worse. 

REGISTER NOW

Launchese.com can help you step by step to register your VAT Number in the UK and start using it with your business. Cost of registration is £39.99 + VAT ($54.99 + VAT) Please reach our customer service here

If you need more details about the VAT Registration Service, please email us at help@launchese.com , our support team will guide you through the process.

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