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