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    1. parnell is offline

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      #1

      Is a VAT Number required to deal with eSources and Wholesaledeals?

      Hi everyone,

      I would like to become a member of eSources and Wholesale Deals.

      Do I need a VAT number to deal with the suppliers? I am actually employed and living in the UK.

      Any help would be appreciated.
      Over 150,000 Verified Sources + Deals 95% Off MSRP + Free Website!

    2. MissWholesale's Avatar
      MissWholesale is offline

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      #2
      Hello Parnell,

      Welcome to Wholesale Forum

      There is no compulsory requirement to have a VAT number registered in order to trade online. The large majority of suppliers in the eSources and Wholesale Deals databases do not require VAT registration. Some will require business credentials plus VAT registration or a proof of trade or a business plan. In order to get into the wholesale business, first set up a business, register yourself as self employed/sole trader with HMRC or set up a limited company. Then set up business electricity and phone lines, open a business bank account that will give you official documents i.e. business credentials and bills to prove that you run a legitimate business. By providing these documents, you can easily set up a business account with most suppliers of your choice.

      Re VAT registration, please note you don't have to register as a VAT payer until your turnover reach ‚ÄúVAT threshold‚ÄĚ which is currently £79k for the previous 12 months. If your turnover is over this limit (i.e. £79k) then you must register for VAT. For more details about VAT and its registration procedure checkout the following link:If you already have a registered business but are still not registered for VAT then you can provide suppliers with proof of registration or proof of trading history, trade references and business bank account details as a proof of trade along with your company or sole trader registration information.

      If you have been trading at low level or are new to the retail business and don't have proof of past trades, you should present suppliers with your detailed business plan to explain where you will be reselling their products. In your business plan, you need to define your business objectives and strategy, sales techniques, marketing and financial forecasts. Creating a business plan will also help you evaluate your business ideas, measure your progress against the objectives you have set yourself, as well as spot potential problems before they become unmanageable.

      Always bear in mind that, the more official your set-up is, the easier it will be to convey a message to the suppliers that you are serious about your business.

      Hope this helps

      Enjoy your stay
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