What do I need to notify my accountant about?
This post is evolving and we'll elaborate on detail, but we wanted to get the basics down first! Whilst most changes can be notified at year end, there are some items that may have immediate tax impact and resulting reporting requirements.
If this applies to you, tell us by sending us an email. Please review the general list and the lists specific to the marketplaces you are active on,
General structural changes
- When registering for VAT in another country
- When opening a new bank account
- When operating in a new marketplace
- When closing a marketplace
- When taking out a loan
- Storing goods in a new country
- Exceeding the VAT threshold (if unsure what this means, make sure to ask!)
Amazon specific items
- If you go Pan-European with Amazon
- If you join the Amazon Commingling Program