VAT registered sellers

Shop Talk
1

Hi all, I have just reinstated my Folksy acocunt, having not sold on here for a long time. Does anyone happen to know where I input my VAT reg number? I am required by law to display it and show buyers that the price includes VAT, but I cannot find out where it goes. Many thanks!

2

I am not registered for VAT. The Scottish Government website says:

You must register for VAT if:

** you expect your VAT taxable turnover to be more than Ā£85,000 in the next 30-day period*
** your business had a VAT taxable turnover of more than Ā£85,000 over the last 12 months*

You might also need to register in some other cases, depending on the kinds of goods or services you sell and where you sell them.

I donā€™t know what businesses have to register but I am not going to ever be anywhere near Ā£85K turnover and I wouldnā€™t imagine too many sellers are hitting that.

Kirsty

3

Some of us have had to register for VAT and therefore have legal obligations to fulfill. Unfortunately it doesnā€™t look like Folksy allow that to happen.

1 Like
4

Why not put it in your ā€˜buying from meā€™ information?

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5

Because I need to provide VAT receipts for customers and it needs to be printed automatically as I do not have the time to be manually producing them and because my prices legally have to display the term ā€œVAT includedā€. Also I should not be paying VAT on my fees.

6

We all pay vat on our fees as Folksy are vat registered.

7

I am VAT registered, so I donā€™t pay VAT, I just charge it to my customers.

8

This is something that you need to ask folksy directly - drop them an email support@folksy.com

9

If you are vat registered you submit a vat return every 3 months entering vat paid and charged. You then pay the difference or get a refund for the difference.

A VAT Return calculates how much VAT a company should pay to or be reimbursed by HM Revenue and Customs (HMRC). ā€¦ A VAT Return calculates how much VAT you owe HMRC (or how much they owe you) by looking at: Your total sales and purchases across a three-month accounting period. The amount of VAT you owe for sales.

I had to do these every 3 months in my previous life in accounting.