Mon 30 / 01 / 17
Interview with Claire Taylor, founder of SimplyVAT.com
SimplyVAT.com, partner of our International Ecommerce event on 22 February, help online retailers trade internationally, successfully. We caught up with founder Claire Taylor ahead of the event, to find her top tips and what she is looking forward to most about the event.
Tell me a bit about your business, how did it start?
SimplyVAT.com was launched in 2013 – I noticed a gap in the market whereby the traditional VAT compliance companies were not talking to the online retailers in their own language – lay persons terms. The smoke and mirrors put a lot of online sellers off even thinking about VAT, let alone understanding the consequences of not complying. SimplyVAT.com was born to support the all the sellers without the luxury of a tax department. We do a lot of hand-holding and are very empathetic and friendly with our clients.
How has your business grown over the years?
We’ve seen phenomenal growth since launch, the team has grown along with our client base. We have really hit a sweet spot with online sellers looking for approachable, expert support.
Brexit – has this changed things for you and the business?
Many overseas, non-EU sellers currently use the UK as a stepping stone into the EU. Since Brexit was announced, some sellers planning to start selling via the UK into the EU put it on hold. As time as gone on and nothing has happened yet, they are now moving forward with their plans. As a business, it will not affect SimplyVAT.com, infact in terms of volume of work, it will be a positive, as companies will still access the UK market, but also will access the EU via, for example, Ireland or France or Germany.
What are your top 5 tips for trading internationally
- Understand the local market, localise your website, offer the local currency, address format, etc.
- Know your international VAT obligations. You will have an obligation to account for VAT once you hit certain thresholds.
- If you put stock in another EU country for onward sales to private consumers, this triggers an immediate need to VAT register there.
- Don’t put a glass ceiling on your sales - factor the VAT % into your margins even before you start having to charge VAT – this will ensure you stay competitive as you hit those thresholds.
- Don’t let VAT be a barrier to your international expansion plans. The opportunity and profit to be gained far exceeds any cost of compliance.
What are you looking forward to talking about at the event?
For me, it’s all about educating the online retailer. Many people don’t understand they are sitting on a ticking time bomb if they don’t know about their VAT obligations when selling online internationally. Especially with the Amazon European Invasion, many sellers are falling foul of the VAT regulations. My message will be ‘know the VAT rules, and breathe longevity into the success of your business’
Are local businesses missing a trick by not trading internationally?
This really depends on their product and their audience. Many like to find their feet in the UK first, whilst others have products that find niche markets overseas straight away.
If a business does want to expand internationally but doesn’t know where to start, there is a lot of help and advice out there:
- The Department of International Trade runs workshops;
- The marketplaces such as Amazon have an incredible infrastructure that allows the seller to access the international markets without the seller having to invest in its own infrastructure – this is a great way to test your products overseas without much cost.
- We’ve got partners in every part of the international ecommerce supply chain – if a seller can’t find what they are looking for, don’t hesitate to ask, we might be able to point them in the right direction.
What are your top 3 tips for success?
- Can't say it enough – planning and preparation is the key
- Grow your business on a solid foundation – make sure your accounts are always up to date.
- No ‘What if’s’ – Reach for the stars!
What’s your favourite thing about doing business in Brighton?
The people – the diversity of culture; the imagination in the products and services; the tolerance; the fearless ‘go do ‘attitude - It makes business so much fun!
Thank you to Claire for answering these questions. For more information or to get in touch visit www.simplyvat.com or email info@simplyvat.com
Are you selling goods online and looking to optimise your international sales? Join us at our International Ecommerce event on 22 February. For more information and to book your ticket click here.
You might also like:
If you want to contribute to the Chamber blog, contact us on hannah@brightonchamber.co.uk