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kostas


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Limited Company and Invoice from Chinese Supplier
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Hello

 

I am a non UK Resident and I'm interested  in formating a UK Limited Company.

The company will be a drop shipping retail e-shop ( http://en.wikipedia.org/wiki/Drop_shipping ) with delivery service all over the world.  The origin and the shipping of the products (that are listed in my e-shop) will be direct from china to my customers all over the world.

 

Payments will be received from my customers via paypal, and  Chinese suppliers will be paid (from me) by credit card (Bank transfer).

 

When a payment is made to a Chinese supplier, will i need to receive an invoice (or it can be proved by business bank account transactions)?   I ask this question because usually Chinese supplier avoid to give invoices.  

 

 

I am a newbie at the forum.

I look forward for your answers

 

Thank You



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napster


Veteran Member

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Posts: 28
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Hi Kostas,

You will need an invoice from your Chinese suppliers while making a payment. You need to pursue your suppliers to provide one for you.

HMRC needs to you keep a copy of the invoice to make sure that the transactions are genuine.

However, i am not sure if you really need to form a UK company to do these transactions. Unless there are huge amount of transactions and you intend to recover any IMPORT VAT (if it is substantial) provided you register for UK VAT.

As all your payments are by paypal and you are a non-resident, i guess the best would be not to open a company and trade directly from your existing company. Please excuse me if i am wrong as i am not well aware of your current position.

If you need any help, feel free to contact me.



__________________

Kind Regards

Naveen Babu B.E., MBA, CIFRS, ACCA
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