Small Online business idea in a sector I know a lot about. Non-perishable stock. Before I take this to my accountant to see if its viable I've been trying to do some at home calculations.
I have a UK Supplier contact who has provided me with a price list, all is great there. From looking at the revenue website and from doing research into it once I am VAT registered (will be registering) and I provide my Irish VAT number to them, UK VAT will not be charged on the goods to me.
On receipt of them - is there customs, levies? I'm trying to find what I can but the only info I can be sure about is for goods coming from outside the EU incurring Customs charges, which is not in my case. 100% of stock will come from the UK.
I then add Irish VAT to the Retail price of the goods.
Am I missing anything? Clarification would be great - If I am correct in the above there is definitely a market for it and its something I can do from home, so there would not be much outgoings. If there are additional costings I need to factor in I'll need to run figures again.
Note I will only be selling within Ireland, offering a next day delivery service.
Thanks in advance for any help.
I have a UK Supplier contact who has provided me with a price list, all is great there. From looking at the revenue website and from doing research into it once I am VAT registered (will be registering) and I provide my Irish VAT number to them, UK VAT will not be charged on the goods to me.
On receipt of them - is there customs, levies? I'm trying to find what I can but the only info I can be sure about is for goods coming from outside the EU incurring Customs charges, which is not in my case. 100% of stock will come from the UK.
I then add Irish VAT to the Retail price of the goods.
Am I missing anything? Clarification would be great - If I am correct in the above there is definitely a market for it and its something I can do from home, so there would not be much outgoings. If there are additional costings I need to factor in I'll need to run figures again.
Note I will only be selling within Ireland, offering a next day delivery service.
Thanks in advance for any help.