Bagging first supplier - Proof of Company?

noz85

Thanks to all who gave advice.

Bit of an update. I just contacted my target initial supplier who was very nice to speak to, but I got knocked back as they asked "do you have a company premises?" to which I had to answer no, because I just want to run the shop from my home address.

Is there anything I can do to get around this?
Thanks

Atidi

noz85 wrote: »

Thanks to all who gave advice.

Bit of an update. I just contacted my target initial supplier who was very nice to speak to, but I got knocked back as they asked "do you have a company premises?" to which I had to answer no, because I just want to run the shop from my home address.

Is there anything I can do to get around this?
Thanks

Get company premises, or find another supplier of items you can sell who don't have this restriction.

paddyrg

Would a lock-up/self-store place do? Or does it have to be a retail outlet?

noz85

In an older thread of mine somebody suggested that I use http://www.companiesmadesimple.com/ and http://www.thisisyouroffice.com/home/

has anybody got any experience of using these? Could this do the trick?

Atidi

noz85 wrote: »

In an older thread of mine somebody suggested that I use http://www.companiesmadesimple.com/ and http://www.thisisyouroffice.com/home/

has anybody got any experience of using these? Could this do the trick?

If you want to create a limited company, then using an agent to do that for you is usually easiest way.
The agent that was recommended is one of the handful that often gets recommended on this site - you can use the search function to find others if you want.

But the important question must be is a limited company the best option for you? Probably best to seek the expert advice of an accountant.

The other link appears to be for a mail forwarding service.
Why do you want that?
That will not fulfil the requirements of the supplier for you to have company premises as it doesn't appear to provide you with company premises.

Edit: The previous thread you refer to is here
https://forums.moneysavingexpert.com/discussion/3910175
(It's locked now, probably because it's over 2 years old)

jamesperrett

I found that having a VAT registration number helped. You don't have to have a turnover above the threshold in order to register for VAT and it will save you money on supplies although you'll have to charge VAT on anything you sell.

Savvy_Sue

jamesperrett wrote: »

I found that having a VAT registration number helped. You don't have to have a turnover above the threshold in order to register for VAT and it will save you money on supplies although you'll have to charge VAT on anything you sell.

I'd definitely talk to an accountant before blindly doing this: if you are registered for VAT unnecessarily and most of your competitors are not, you won't be able to match their prices.

Mistral001

Savvy_Sue wrote: »

I'd definitely talk to an accountant before blindly doing this: if you are registered for VAT unnecessarily and most of your competitors are not, you won't be able to match their prices.

It really depends on the margin that you have. If the margin is low and you are paying VAT on the goods you are selling then it might not increase your price much.

I am not registered for VAT, but I have often thought of being registered for VAT as it certainly gives you a certain status with the people you do business with.

Savvy_Sue

Mistral001 wrote: »

It really depends on the margin that you have. If the margin is low and you are paying VAT on the goods you are selling then it might not increase your price much.

I am not registered for VAT, but I have often thought of being registered for VAT as it certainly gives you a certain status with the people you do business with.

Various factors to be considered, aren't there? Not a simple 'yes / no' answer, which is why I'd say the OP needs to consult an accountant where he can fully disclose and discuss HIS business.