What is the Enterprise Investment Scheme (EIS) ?

EIS Income tax relief declaration (30% relief)

Let’s be honest. If you are not willing to deal with high risk, you’re better off not investing in small companies. Some small companies will succeed and make their investors a lot of money shortly. However, others will have a hard time getting there – or worse yet, will declare bankruptcy.

Now, the government is aware of this issue and provides Enterprise Investment Scheme (EIS) investors with tax incentives. Said taxes reduce the negative impact of those investments that go wrong and increase the positive outcome of those that succeed.

Bear in mind, as a disclaimer, that tax rules may vary at any time given, and benefits rely on circumstances.

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What is EIS Tax Relief?

Up to 30% of income tax relief

Provided that you invest £100,000, you can get up to a £30,000 tax reduction on your annual income tax bill. However, you must hold the shares for a minimum of three years to be eligible for this. Also, as expected, you need enough income tax liability from the beginning.

Generous contribution allowance

If an amount above £1 million gets invested in knowledge-intensive companies, you invest up to £2 million per tax year. A knowledge-intensive company refers to innovative and fresh businesses that spend on research and development.

Carry back

Provided that you hold the tax allowance, you’re eligible to carry it back. You can set off the tax relief to the previous year’s tax bill, which could result in receiving back the tax you already paid.

Tax-free growth

Considering you have claimed tax relief and companies qualify, there’s commonly no need for you to pay CGT during the realization of EIS shares.

Deferral of capital gains

If you acquire a taxable gain and invest it in an EIS-qualifying investment, you can defer the capital gain as long as the money remains invested and the EIS rules are met. You may earn a taxable gain by selling a property, for instance.

Profits generated up to three years before the EIS investment and one year after can be deferred. Yes, even if you have already paid the tax, you can postpone the gain.

Once you withdraw your funds, the gain reverts to you, and you must pay CGT at the current rate. Nevertheless, you might continue deferring said gain by investing in another EIS.

Inheritance tax relief

Provided that an investment in an EIS-qualifying firm is held for two years and at the time of death, it should be eligible for 100 percent inheritance tax relief.

Loss relief

Let’s say things don’t go as intended. You might choose to deduct any losses from your income tax bill, excluding the income tax relief obtained. Do you know what this means? It means that up to a loss of £1-£38.5 can be reduced.

It reduces losses and increases gains. How?

Say you invest £100,000 in an EIS. Due to the income tax relief of up to 30%, the effective net cost could be around £70,000. Along with loss relief, it can affect your ROI, regardless of your investment is successful or not, as shown in the table.

Loss relief permits you to compose off any misfortunes against income tax. In the event that your investment falls to zero, you could subtract the £70,000 loss from your taxable income.

This gives a potential duty saving of £31,500 and means the greatest viable misfortune loss could be just £38,500 (viable expense of £70,000 less misfortune help of £31,500). In the meantime, on the off chance that your investment grew by half, because of the duty help, you could be checking out a viable gain of 80%.

Gm professional accountants have offices located in London Canary wharf, London Wimbledon ,Ilford Essex and Birmingham.

What is the 1257L Tax Code?

What is the meaning of the 1257L Tax Code – 

It is predicted that, not only will the 1257L Tax Code not suffer any changes until around 2026, but that it will be the most common form of tax between 2021 and 2023. Considering its replacement of the 1250L tax code, the most popular tax code between 2019 and 2021, it only makes sense that there will only be any talk of change after the same amount of time is given.

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No matter what happens, the majority of taxpayers will receive an update notice to the tax code either in February or March by the HMRC. This is the time taxpayers will be fully aware of how they should calculate and determine how much they will pay out in taxes that year.

What is tax code 1257L M1

This is an emergency tax code , and means you have been provided the allowance from the month that you have commended your employment. This will not take into account your previous months. This is a measure taken if your tax code cannot be obtained from your previous employer. This should be corrected.

What Is Tax Code 1257L?

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It may seem complex or confusing, but the tax code in the UK has always been fairly simplistic, and tax code 1257L is no different.

Each tax year, there is an agreed-upon personal allowance that is granted to UK’s taxpayer. This personal allowance essentially determines how much a person can earn before paying taxes on their income. During the tax year ranging between 2021 and 2022, the personal allowance was increased to £12,570.

The HMRC then converts the personal allowance number (£12,570) into a tax code. In this case, that tax code is 1257. From there, an “L” is added, which makes the tax code 1257L.

Put simply, for the majority of taxpayers, Tax Code 1257L means that you will only be taxed on earnings that exceed £12,570.

How Much Will I Pay With Tax Code 1257L?

The 1257L tax code essentially offers an annual rebate of £12,570. This is spread out over a year. This means you’d receive a weekly allowance of £241 and a monthly allowance of £1,047.

Any income earned over this, ranging between £12,571 and £50,270, is taxed at a rate of 20%. From there, income earned between £50,271 and £150,000 is taxed at a 40% rate. Finally, for those that earn over £150,001 annually, they are taxed at a 45% rate.

Scotland has a slightly altered tax rate that is only slightly different from the numbers listed above.

Is My Tax Code Wrong?

For the vast majority of employees, the tax code should be correct. Generally, those with only a single employer and no benefits or tax-deductible allowances will be in the correct tax code setting.

Those that run the risk of being placed in the wrong tax code can typically include:

  • Those that regularly shift jobs; have multiple jobs at one time; or have started, left, or are retiring from a job within that year
  • Those with multiple sources of income (eg., a second job or a pension plan)
  • Those with tax-deductible allowances
  • Any changes to their taxable benefits (such as being given a company van for private use)
How Can I Correct My Tax Code?

If you are under the impression that you may have an incorrect tax code, immediately contact HMRC on 0300 200 3300. Speaking with them as soon as possible can reduce any potential tax errors.

Other methods of contacting HMRC about a potentially incorrect tax code is available by following the link below here – Contact HMRC.

Gm professional accountants have offices located in London Canary wharf, London Wimbledon ,Ilford Essex and Birmingham.

Accountants Guide For Tutors

Accountants For Tutors

While it’s true throughout the school year, the tutoring business is at its most profitable during exam season. For many, this can be just as much a time of stress as it is a time of celebration. After all, as profitable as it is during this period, it’s also going to be a hectic one. Going from student to student while also trying to keep track of your finances can wear at even the sharpest minds.

Instead, it may be better to let a skilled professional give you a hand.

If you’ve ever felt you’ve left your finances and accounting go by the wayside while focusing exclusively on ensuring your students put out good work, this is worth your time. If you’ve ever felt that you could use some help of your structuring your cash flow, this is worth your time. Simply put, if you’ve ever felt you just had too much on your hands at once, this is worth your time.

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Self-Assessment / Tax Return / Deadlines

What Is A Self-Assessment Tax Return?

Required by the HMRC, a Self Assessment Tax Return is an overview of your full income as well as a way to determine whether you have properly paid out your income tax for the year. The HMRC does this by going over your income as a PAYE (pay as you earn) employee. This ensures that they have a complete picture of how much income you’ve made from all sources throughout the year.

As a result of this tracking, you’ll want to make sure you list out any additional forms of income you’ve earned, provided you meet the criteria (see below).

Potential Tax Refunds

It may seem like you are only opening yourself up to a larger portion of your income being taken, but that isn’t entirely true. Depending on your situation, you may also have the option of getting a few tax refunds as well.

Tax Deadlines

The deadline for each annual tax year (for individual persons) goes from the 6th of April to the 5th of April the following year.

As an example, for the tax year of 2o2o/2021, all income accrued between the 6th of April 2020 to the 5th of April 2021 is counted as income that you’ve personally received, and thus must be declared on your tax returns.

As we are currently still inside of 2021/2022’s tax year frame, while everything made until the 5th of April 2022 will be a part of that year’s return form, your following tax return won’t be due until the 5th of April in 2023.

Allowable Expenses For Tutors

Office & Stationary Costs

While filling out your self-assessment tax return form, you can claim expenses on several things, including:

  • Any and all Office & Stationery Costs
  • Printing
  • Printer Ink & Cartridge Costs
  • Postage
  • Computer Software
  • Phone, Mobile, Fax, & Internet Fees, Costs, and Bills
  • All Learning Materials, e.g., Books

[To claim computer hardware equipment, look over ‘Capital Allowances’ section below]

Working From Home

If, as a tutor, you do a considerable amount of work from home, you may be able to claim a certain portion of your costs on your tax returns. This can include things like:

  • Heating
  • Electricity
  • Mortgage Interest / Rent Costs
  • Internet & Phone Use
  • Council Tax

You will want to have an accountant on hand to help effectively divide out your costs based on the amount of time spent working from home. Our accountants are especially skilled in this, and, with only a few questions, can get you a realistic number for how much you can put on your returns.

Gm professional accountants have offices located in London Canary wharf, Wimbledon  , Birmingham and Essex.

HMRC Self Assessment Late Tax Return Penalty Notice, What to do?

HMRC Self Assessment Penalties

Paper self-assessment tax returns were due on October 31st, and online self-assessment tax returns are due on January 31, 2022, to pay what is owed. Failure to complete a return by the due date can result in a penalty. Automated penalties are sent to those failing to complete a return, and can be sent in error.

With a reasonable excuse, a late tax return penalty can be challenged, but when you fail to submit your return the HMRC will demand payment.

 

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What Are Some Reasonable Excuses For Filing Your Tax Return Late?

A reasonable excuse is required to challenge a tax return penalty. Don’t ignore the tax department, as they are not going to forget about you.

Common reasons why people are late in submitting a return are:

  • You may not be eligible for self-assessment.
  • Postal delays
  • Illness or death of a loved one.
  • Software meltdown
  • Acrimonious divorce proceedings

The penalty incurred is usually 5% of the amount owed, and if the return is three months late you will pay a penalty of 100 pounds, so it is important not to delay, and get help to make a valid appeal.

 

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Employment Rights

Employment law does not usually cover self-employed people, as they are considered their own boss. However, they still have protection for health safety and discrimination. Their rights are set out by a contract signed with their client.

 

HM Revenue and Customs (HMRCMay regard someone as self-employed for tax purposes and often need to check whether they are exempt from PAYE or whether they have employee’s rights.

If the employment status is proven to be wrong. Both individuals and their employees may have to pay the unpaid tax or lose entitlements.

 

Checking Employment Rights

A person is considered self-employed and does not have the rights of an employee when they submit invoices for the work done and are not under direct supervision when working. They use terms like consultant or independent contractor to describe themselves.

 

Excuses For Late Filing of Tax Return

If you failed to file a return by October 31, you are not alone, as the deadline is missed by over 800,000 people a year. It is obviously a huge waste of HMRC time to process all these excuses. So in 2015, a press release from the HMRC revealed that the standard 100 pound fine for failing to submit a return on time, would be waived without inquiry for those offering a reasonable excuse for lateness.

 

Your Appeal

If you are feeling anxious about your ability to successfully appeal to HM Revenue and HMRC, it may be for the following reasons.

  • Late return
  • An inaccurate return
  • Late payment
  • Incomplete records

When you do appeal an HMRC expert who was not involved with your penalty decision will conduct a review.

You may be appealing over customs duty incurred, and if you are offered a review, you can accept it to state your case. Alternatively, you can appeal to the tax tribunal, and if your excuse is reasonable your penalty may be canceled.

 

Procedure to Appeal

If the HMRC issues you with a penalty letter, use the form that accompanies it to appeal.

There may be some extra documentation to fill in for Self Assessment, VAT, PAYE, and Corporation Tax.

You can get your penalty canceled if you failed to send a tax return because you no longer need to. So if you are no longer working, you can probably explain this online. If you are going ahead with the appeal you will need.

  • Date of penalty
  • Date of filing your Self Assessment
  • Excuse for late filing

If you are appealing the 100-pound late penalty you can do your appeal online by setting up a Government Gateway Account.

Otherwise, submit your written appeal:

Self Assessment

HM Revenue and Customs

BX9 1AS

United Kingdom

When appealing on behalf of a partnership for a late return, submit your appeal by post using the SA371, The nominated partner must make the appeal. Do not pay the fine before checking if you can appeal as there are penalties of 1600 pounds or more for one year.

 

How much do you get fined for late tax return in 2021 and 2022? or Will I get fined for late tax return?

Conclusion

As you can see, the HMRC assessment is complicated, if you don’t feel able to meet the requirements and deadlines, employ the services of a tax expert.

Companies house authentication code, not received or not working which one?

What is Companies House Authentication Code?

Every time a new company is established and registered in the United Kingdom, they are given a special authentication code. This authentication code is known as a Companies House WebFiling code, containing a mixture of numbers and letters. This code is unique to your specific company and is a total of six alphanumeric characters. It is a very important security measure for authorized individuals for the purpose of updating/changing company details. In fact, this code is equal to a company officer’s signature.

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Why Is the Authentication Code Important?

This code is vital to your company because it is required for all online Companies House tasks. The code is needed for the following…

1.File annual accounts for your company

2.File directors and secretaries for your company

3.File the annual return and/or conformation statement for your company File documents in order to appoint a new director

4.File documents to resign a current director File documents to update the registered office File to add new shares

5.File to change the accounting reference date

6.Update Companies House with any relevant information

When you register a new company with Companies House, it will take approximately five days to receive your authentication code. If you need to request a new code or replacement code, it will be sent to your company’s office address.

Your code should be kept safe and treated with the same care as a PIN. If an individual gains access to your code, they can alter your company’s details. If someone you do not trust has access to the code, change it immediately.

What Happens If You Lose Your Authentication Code?

If you have misplaced or lost your Companies House code, there are a few ways to retrieve it. The way in which you retrieve your code is dependent upon how you formed your company. You should request a new code right away. Do not wait until you are required to file.

If your company was formed through Companies House, these are your options for retrieval…

Assuming the company was formed via postal service or online web, request a new code by signing up online.

If you already have an online WebFiling account, log in. Next, select “request authentication code.”

Ensure to correctly enter the company name and where it was registered. Once displayed information is correct, select the option “request code.”

A new code will automatically be sent to your company’s office via post. You will receive it in 3 to 5 business days.

For security purposes, Companies House is unable to send an authentication code through email or speak it over the phone

If your company was formed through a company formation agent, these are your options for retrieval…

Request a new code by logging into the customer portal on your formation agent’s website. Once you log in, you will be able to see your company details and authentication code.

If web access is not an option, you can also email or call your formation agent to request the authentication code.

Gm professional accountants are small business accountants based in , Wimbledon, Birmingham, Canary Wharf (London)

Are books zero-rated for vat or Standard rated in the UK?

Are books zero-rated for vat or Standard rated in the UK?

What are the ramifications of these adjustments?

First of all and foremost, if you provide electronic publications, the VAT rate on those goods must be reduced to 0% with effect immediately and retroactive to May 1, 2020. Electronic versions of children’s picture and painting books, as well as e-books, e-booklets, e-brochures, e-pamphlets, e-leaflets, e-newspapers, e-journals, e-magazines, and e-periodicals, will be subject to the new zero-rating guidelines.

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Audiobooks and any e-publication with more than 50% of its content dedicated to advertising, audio, and/or video material, however, are exempt and will remain standard rated (20 percent ).

What If We Included Anything Extra With E-Books?

When a zero-rated publication is sent with something else, HMRC has issued the following guidance:

  1. If a firm makes a single supply of an e-publication, it is exempt from tax, but only if it is the primary element and everything else is secondary. In other words,
  1. the products/package have a single price;
  2. the source is marketed as a package;
  3. the other investments cannot be bought separately from the e-publication;
  4. some other products would’ve been useless without e-publication and are simply supplementary.
  5. your customers see the sale as only one supply of an e-publication with the new offerings as simply extra features.

The 0% VAT rate is applied to the whole supply if the other items are assessed to be supplementary to the e-publication for VAT purposes. A company produces a variety of products, each of which is different and self-contained, i.e. the things have the following characteristics:

They are offered separately and not as a package; they are available for purchase separately and not as a package; there is a time difference between components of the supply; and/or the supply’s pieces are not interdependent or interrelated.

As a result, only the e-publication is zero-rated, and the other supply is subject to the usual 20% VAT rate or VAT exemption, as applicable. According to government regulations, all firms must charge VAT on their customers’ purchases.

Rates of VAT

What are all the VAT Rules for Print Products? | What are the VAT Rates?

The UK government has introduced three sorts of VAT rates: Zero Rate, Reduced Rate or 5% Rate, and Standard Rate or 20% Rate. It’s worth noting that all print items are the same rating. There is either a Standard Rate or a Zero Rate for them. So, which goods are VAT-free and which aren’t?

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Printing Services at No Cost

The term “zero-rated” are goods and services that are charged at no cost. These items are, in certain ways, VAT-free however, you must keep track of them in your books and disclose them in your VAT return. There are examples of zero rated print products listed below:

Image books for youngsters, art books, picture books, and recipe books are among the books available.

  • Brochures and leaflets
  • Bulletins
  • Catalogs
  • Circulars \Directories
  • materials for the election
  • Distributed Leaflets and flyers.
  • Journals
  • Magazines
  • Manuals
  • Topographical plans, maps, and charts
  • Menus \Newspapers
  • Pamphlets
  • Periodicals
  • Publications
  • Price listings in full color
  • Reproduced/printed music
  • Programs on sports
  • Rate of Interest Products to Print

The standard rate is a 20% deduction from the selling price of goods and services. Unless the commodities are classed as Reduced Fee or Zero Rate, the majority of products and services have a regular rate. The following print products are standard rated:

There are two types of cards that may be used to make an announcement, Acceptance Announcement Cards and Appointment Cards .

  • Calendars and Certificates Business Cards
  • Slips of Appreciation
  • Coupons
  • Notes on Shipping
  • Diaries
  • Tickets for the lottery/draw
  • Envelopes\Folders
  • Forms
  • Completed Publications Greeting Cards
  • Invoices & Invitation Cards
  • Labels
  • Letterheads
  • Notebooks
  • Formats for Menus (Self Completion)
  • Book Orders
  • Photocopies
  • Postcards
  • Posters
  • Questionnaires
  • Books with Receipts
  • Stationery
  • Stickers
  • Tags \Tickets
  • Card of Visit
Exceptions To The General Rules

What are the VAT rules for printed goods? | Exceptions and Special Rules

There are a few exceptions to both the zero- and standard-rated product listings. Leaflets, flyers, and pamphlets are all examples of printed materials. Flyers, brochures, and pamphlets are zero rated unless they meet the criteria for being classified as such.

Brochures, pamphlets, and other printed materials.

Brochures and pamphlets aren’t legally defined, according to VAT Notice 701/10. This indicates that it’s “a question of fact and impression” whether a print output is a brochure or pamphlet. Single-sheet brochures and “pocket” brochures with a flap, on the other hand, maybe zero-rated if they meet the following criteria:

Transmit information contain a significant quantity of text, with some indication of contents or of the sending organization are not primarily meant to carry other things are sent fully assembled

Leaflets are needed.

They, too, are not defined by law, like brochures and pamphlets however, if the print goods are utilized for any of the following, they will not be considered leaflets and VAT will be charged:

  • as a calendar
  • in order to get access
  • to a location
  • to receive a discount on products
  • or services as reference material for completion
  • or return For Items with Completion Areas

Leaflets, brochures, and booklets are normally zero-rated unless they contain the following in less than 25% of their overall area:

  •  Unfilled Areas and waiting to be filled
  • Detachable and returnable parts
  • Standard-rated publications are those that are intended to be returned after completion.

GM Professional Accountants have offices Located in wimbledon London, Birmingham and Essex.

How to set up or create an Amazon Seller Account UK 2021

Are you contemplating starting a business online? We live in the digital age where many people spend time online. Setting up an online business is a good way to tap into this pool of potential customers. As it stands, over 2.14 billion people shop online, representing about 27.6% of the total population in the world. This statistic shows the growing adoption of online shopping by various people. Therefore, starting a business on a well-known platform is a wise and profitable investment decision. Amazon is such a platform. According to Forbes, 89% of people are more likely to purchase items from Amazon than other online shopping sites. In this post, we will focus on starting an Amazon business.

 

Starting an Amazon business

What makes Amazon great is that there are various ways of starting a business on the platform. On Amazon, there are many ways to succeed. However, they begin with choosing a business model and the products that you plan on selling. Regardless of your business model or your chosen type of product, setting up and running an Amazon Business remain the same. Below are the steps to set up and run an amazon business:

 

1. Choose a business model

There are many business models that you may use for your Amazon business. Settling on a business model plays a critical role in improving sales. Below are some models that you can use:

 

Private label: This refers to the process in which a retailer renames/rebrands a product that they have manufactured.

Wholesale: A retailer may buy goods at a discounted price or a low cost and then sell the individual units for profit in a retail market.

Dropshipping: This is a business model by which a seller transfers the customer orders directly to a supplier or a manufacturer instead of keeping their inventory.

Handmade: You can make your products like accessories, jewelry, home décor by hand and put them up for sale on the Amazon marketplace.

Retail and/or Online Arbitrage: Arbitrage refers to a method that retailers find a discount or low-cost goods on eCommerce sites and resell them on the internet.

 

2. Choose the fulfillment method

You can choose between;

Fulfillment by Amazon (FBA)

Amazon has among the most advanced networks for order fulfillment in the world. With FBA, you store products in an Amazon fulfillment center. Workers pick, package, ship, and offer customer service for your products.

Fulfillment by Merchant (FBM)

This refers to when retailers put their products on Amazon, but they handle the fulfillment of orders and customer service.

Each method has its advantages and disadvantages. Therefore, closely examine each before settling on either of them.

 

3. Settle on the products that you will sell

The next step is deciding which products you will be selling. You can sell fashion products, food products, handmade items, among many other categories. If you plan to sell handcrafted items, this process may be already sorted, although you still have ensured that there is a demand for the product on Amazon. Tools like Jungle Scout are essential for finding the highly demanded products.

 

4. Apply to become a seller

We will discuss the process of registration to become a seller in the next section.

 

5. Sourcing your products

Once your registration has been approved and verified, you can start sourcing for the product(s) that you will be selling. If you use a private label business model, you can find a manufacturer using the supplier database on Jungle Scout or Alibaba.

 

6. Creating your product listing

Finally, you can create your listing and use it as a basis for growing your Amazon sales.

 

 

Creating an account as a seller on Amazon

 

After figuring out the product(s) that you intend to sell on the platform, complete the process of registration as a seller. The process is as below:

 

1) Head to https://services.amazon.com

 

2) Next, scroll the page that is below the link showing how you can become a seller on amazon

You will see a link labeled “see pricing->”, click on it.

(With the “See pricing->” link, you can see the difference between professional and individual accounts. Thus, you can choose what registration to use”.)

 

3) Choose between professional or individual accounts

You have two options for seller plans on Amazon, Individual and professional plans.

Are you going to sell over 40 products per month? Then a professional plan is your best option. Whether you do not consider yourself a professional or sell as a hobby, the plan helps you save money. However, if you plan on selling less than 40 units a month, select an individual plan.

 

4) Key in your details and click “Create a new account”

After selecting a seller plan, a form will appear for you to enter your seller account’s credentials. Click “Next” when you are done.

You will see another screen requesting you to enter a Time Password (OTP) sent to your email by Amazon. It verifies your email. After entering the OTP, click on the “Create Your Amazon account” button.

 

5) Choose the location and type of your business.

Business Location

In which country is your business located? You must get this right because Amazon will verify it.

Business type

Amazon lets you choose from the following business types; Charity, Privately owned business, publicly owned business, state-owned business, or none (if you are an individual). You then have to enter all your three names. After this, click on the “Agree and continue” button.

 

6) Provide your personal information

After selecting the type of business, Amazon will ask for your details. To validate them, Amazon will ask you to give identification. It may be a driving license or a passport. For verification, they may ask you to provide your phone number.

 

7) Select your marketplace

After filling in the personal details, check the box below to select the marketplace(s). A marketplace, in this case, is the location of an Amazon store, amazon.co.uk, amazon.ca, amazon.in, among others. Click “next”.

 

8) Provide your billing information

This is a way for Amazon to verify your identity and ensure that your credit card information is valid. Amazon requests the credit card number, the name as it appears on the card, and the date of the credit card’s expiry. Click “next” at the bottom of the page when done.

 

9) Adding the Amazon store and the product information

After your credit card information is validated, Amazon will ask you several questions about the products you intend to sell and your amazon store. They include;

  • What is the name of your Amazon store?
  • Do you have UPC codes for your product(s)?
  • Are you the manufacturer? Who is your product’s brand owner?
  • Do you have registered trademarks for your products?

After answering these questions, click “next”.

 

10) Validation of the address

After completing the steps above, Amazon requests you to confirm the business address you had provided earlier (in the “personal information” screen).

If the displayed address is correct, click on the “confirm” button. A message appears showing that Amazon will send a postcard to that address. It also includes a verification code. When the postcard arrives, enter the code into the “enter the code” field. To finish the process of verification, click “next”. You are now in. All you have to do is log into https://sellercentral.amazon.com. To get started.

 

Conclusion

To ensure increased security, set up two-step verification on your Amazon account. However, note that there has been a change registration process for a seller on Amazon. It is primarily to help in verifying the seller’s details. To be prepared with the documents, read our article on “Amazon seller verification”.

 

 

GM Professional Accountants have offices Located in London, Birmingham and Essex.