If not is there anything i need instead?I heard a resale id is just for the US.
2007-01-21 05:04:41 · 8 answers · asked by emnie 2 in Business & Finance ➔ Other - Business & Finance
when you buy from wholesalers,they ask for it.
2007-01-21 05:09:45 · update #1
you would ony need the equivalent of a Resale ID if you do more than a certain amount of sales per year (I think its araound £75,000).. check on HMRC
The UK (And EU version is called VAT[value added tax], and comes in at a whopping 17/5% on most goods.) VAT is like most things from the EU its fiendishly complex and burocratic)
You dont need a VAT number to buy from wholesalers or manufacturers, if you are not VAT registered then you are charged VAT, and cannot reclaim it back You can recliam VAT on capital purchases (ie not goods or services that you are selling), as and when you register for VAT.
You dont need to register as a business, you can if you wish... see companies house.
In any event you will need to keep adequate financual records and pay tax of any profits. You will pay tax if you are UK resident.. there should be no need to pay tax if you are not.. you should decalre the profits to your designated tax domiile
2007-01-21 05:19:16 · answer #1 · answered by Mark J 7 · 1⤊ 0⤋
I never heard of a re- sale ID?.. explain
ok.. In the US many types of businesses need a wholesale license, I don't know about the UK, why not just ask some business owners in your area?
Peace
2007-01-21 05:09:06 · answer #2 · answered by Yahoo Answer Rat 5 · 0⤊ 0⤋
The equivalent in the UK may be the VAT registration number - you will have one if you are a business (I believe) and this allows you to buy from wholesalers. If your business is too small to register for VAT then you will have to provide other proof that you have a bona fide business
2007-01-21 05:14:58 · answer #3 · answered by Paul B 5 · 1⤊ 0⤋
they normally ask for membership card never heard of of a resale ID. it maybe a VAT no
2007-01-21 05:15:49 · answer #4 · answered by Snot Me 6 · 0⤊ 0⤋
No, if a wholesale shop sells to the public, tax included obviously, you only need you wallet/purse. 8>)
2007-01-21 05:16:19 · answer #5 · answered by iusedtolooklikemyavatar 4 · 0⤊ 0⤋
i haven't heard of an ID resale either what is it for..
2007-01-21 05:14:01 · answer #6 · answered by sky 4 · 0⤊ 0⤋
no u jus need a brain
2007-01-21 05:23:25 · answer #7 · answered by Anonymous · 0⤊ 1⤋
no
2007-01-21 06:03:54 · answer #8 · answered by BD M 2 · 0⤊ 0⤋