Stock accounting, marketplace VAT, online sales reconciliation and year-end accounts for independent retailers, e-commerce businesses and sellers on Amazon, eBay and other platforms.
Running a shop or selling online seems straightforward until you get into the detail. Stock valuation affects your reported profit. VAT on different product types varies. Online marketplaces report your sales to HMRC under DAC7 rules, meaning HMRC has visibility of your platform income whether or not it appears correctly on your return.
We work with independent retailers — high street shops, gift shops, specialist retailers — and an increasing number of online sellers, including those selling on Amazon, eBay, Etsy and their own websites. Many of our retail clients do both, and we handle the combined picture.
For online sellers with overseas customers, the VAT position after Brexit became more complex — the rules on distance selling thresholds, import VAT and the One Stop Shop scheme all need to be understood and applied correctly.
Year-end stock counts and valuation — the correct basis (generally cost or net realisable value, whichever is lower) applied consistently. Getting this right is essential for accurate accounts.
Amazon, eBay, Etsy, Shopify — reconciling platform payments to your records, understanding settlement reports and ensuring all income is correctly captured in your accounts and returns.
Product VAT rates, point of sale VAT accounting, retail schemes and the correct treatment of mixed supplies — we handle the VAT returns and make sure the right rates are applied to the right products.
Selling to customers outside the UK, buying stock from overseas suppliers — the VAT implications of cross-border trade have become more complex since Brexit and we make sure you're compliant.
Accurate accounts for retail businesses of all structures — sole trader, partnership or limited company — including stock, debtors, creditors and the reconciliation of all sales channels.
Retail businesses often face significant cashflow demands around stock buying. Management accounts and cashflow forecasting help you plan around seasonal patterns and make better buying decisions.
Many of our retail clients sell both in-store and online. We understand both environments and produce accounts that bring all the channels together accurately.
HMRC receives data from marketplaces about seller income under DAC7 reporting rules. We make sure your returns are consistent with that data — so there are no unpleasant surprises.
Retail owners are busy. We give you clear answers when you need them and don't make simple things complicated. Fixed fees mean you know what you're paying.
Free initial consultation, no obligation. We work with retailers and online sellers across North Yorkshire.