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Before you start your AMAZON FBA journey:
GET PREPARED:
It is time to get prepared with all the essential tools needed to start your Amazon FBA Business
Registering as a Sole Trader or LTD Company through the HMRC Government Website: Before setting up your Amazon selling account you will need to register as a Sole Trader or Limited Company through the HMRC government website. If you have any questions in regards to which one to register with or any general questions before you start, please open a ticket, seek advice from a financial advisor or contact HMRC directly on 0300 200 3310.
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Sole Trader:
Sole Trader:
First of all, click the following link: https://www.gov.uk/register-for-self-assessment/self-employed
Next click on the document titled “Register for self assessment and get a tax return, fill in and send SA1”. Next click “create sign in details”, create your login, password and complete the security check.
After you have created an account and set up your recovery word you will be given your Government Gateway user ID. Next it will ask you to select the type of account you need, please click individual.
Next, enter your mobile number and you will be provided with an access code. Click manage account and then click “Get online access to a tax, duty or scheme”. Click “Self assessment, including partnerships and trusts”, it will then ask if you have a UTR number, click no (unless you registered before, if so then you can call HMRC to request your UTR or if you use an accountant, they will be able to provide you with this information). Next it will ask you which of the following options best describes you, click individual or sole trader. Next it will ask if you are self employed, click yes.
If you get the page which says Register for HMRC taxes, click self assessment. Next you will be asked for your personal details and then you will need to complete some security questions. Once your identity has been confirmed please select how you would like to receive your tax letters. Once you have done this, you will receive your UTR number through the post within 2-4 weeks, this is needed before you start the Amazon sign up process. Sometimes your UTR number is uploaded onto your HMRC online account before you receive your letter so it’s worth checking your account every couple of days.
LTD Company:
First of all, click the following link https://www.gov.uk/limited-company-formation/register-your-company. Next click on “Register now”.
Next, start a new application and then it will ask you how you would like to pay (the registration will cost you £12). Complete the next set of questions and then create your Government Gateway user ID. Enter your email address and enter the confirmation code you will be sent to your email address.
Next complete the next set of questions which will include your name, password and recovery word. You will then be provided with your Government Gateway user ID. Complete the next set of questions which will include your relationship to the company and also if your company benefits the community.
On the next question click Limited by shares, you only need to click Limited by guarantee if you are a non profit organization, like a charity. Create a company name and click Limited or LTD (this doesn’t really matter which one you pick). Complete the next set of questions which include the company address, where will the company be registered, and what is the company's principal place of business.
When you are asked “What will the company be doing” scroll down to Retail sales via mail order houses or via the internet 47910”. Again complete the next set of questions which will be your details (The Director of the business) and details on the shareholders.
When you get asked about Model articles of association most of the time you will need to click yes unless there are multiple shareholders and you have set up a special agreement that you need to input your own agreed terms. Next you will be asked to create an electronic signature.
Once you have checked and confirmed your answers from the form make sure you select “Send your application”. Once this is completed, make a note of your submission number and then you will need to make your £12 payment. Once you have done this, you will receive your Company Registration Number, this is needed before you start the Amazon sign up process, I am not sure if this is given straight away or sent through the post like the UTR provided when registering as a sole trader.
Ungating Products on Amazon
Please join the discord server to learn how this is done correctly, as if you end up struggling to get ungated, you can easily open a ticket with one of the Aftermarket Arbitrage Admin's and they will help you get to the bottom of it.
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