HMRC Explained | Global E-Commerce Experts - Compliance Corner

E-Commerce Expander Secrets

Andy Hooper

Business

5 • 9 Ratings

🗓️ 4 August 2020

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In today's Compliance Corner we're talking about - HMRC or Her Majesty's Revenue and Customs!

What is it and what you need to know about them...

HMRC is a government organisation responsible for the collection of taxes, the payment of some forms of state support and the administration of other regulatory regimes.

Okay but what does that mean to you? Basically, they are a huge part when it comes to the compliance of selling within the UK as you'll need to communicate with them heavily surrounding getting your VAT number, submitting VAT returns and more to ensure you meet the regulations of selling in the UK.

However, we understand that as an American seller it can be very confusing trying to understand all the many complicated regulations and laws surrounding UK VAT and Tax so as your VAT agent it is our job to do all of this work for you and be the primary point of contact between you and HMRC.

Check out the video for more information and we look forward to seeing your Thursday for more crucial content!

#hmrc #hmrcexplained #vat #taxes #amazonfbaseller #amazonsellers #amazonfbaexpert #amazonfbacoaching #amazonfba #compliance #contentcorner #globalecommexperts

Transcript

Click on a timestamp to play from that location

0:00.0	Good afternoon everyone and welcome to another content. Thank you very much for joining us.
0:06.0	My name is Andy, I'm here from Global eCommerce experts and today we're going to talk to you about HMRC.
0:11.0	What is HMRC? What does it actually stand for and what do you actually need to know about them?
0:17.0	Well, I actually went on the website just before doing this to check if I could check out the About Us page.
0:24.5	Because I know what it stands for, I know what it does, I know that I have to give them a huge amount of money I might not want to, and I'm sure you feel exactly the same.
0:32.3	But I wanted to find out About Us.
0:35.3	It's probably the only website I've ever been to that doesn't have a
0:40.3	about us page. So that was a complete waste of my time. So don't waste yours going and have a
0:45.5	look at it. So HMRC, what is it? Well, Her Majesty's Revenue and Customs. In other words,
0:53.1	the government business organization that's basically in
0:58.4	charge of doing taxis, doing VAT, setting, working with government for legislation, it's about
1:07.3	doing pensions, it's about PAYE,Y. It's about like everything. Anything to do
1:13.7	giving the government money in a nutshell is HMRC. And we all love to hate them.
1:22.0	It's the honest truth because no one likes giving taxes to the government, but we all know we have to, so we don't mind
1:28.9	doing it because we have to do it. And, you know, it's one of those places where it's shrouded in
1:36.2	secrecy. And what I mean by that is that you phone them one day and you get one piece of advice
1:43.0	and you phone them the next day and advice is the same, but it's slightly skewed because you spoke to someone else.
1:49.0	You take hours to phone and speak to them, you know, you pick up the phone, it takes 20 minutes to get in contact with them.
1:56.0	Obviously, join this COVID period. It's even worse. But, you know, it's a love, hate relationship that we all have
2:03.9	with our government authorities, that we need them, they're there to do a job, they do an amazing
2:08.6	job, the majority of the time, but we just have to work through their processes and try and
2:13.8	understand their communication as best we can. In a nutshell, HMRC, Her Majesty's Revenue and Customs,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Andy Hooper, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Andy Hooper and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.