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F. Naz
F. Naz, Chartered Accountant
Category: Business
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Experience:  Doing Chartered Accountancy
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Uk. By UK law can you purchase something from say for

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Uk . By UK law can you purchase something from say for instance Debenhams and sell it at a profit legally as a business?I look forward to your reply

Any deadline for this?

Customer: replied 3 months ago.
No not really!!

Okay will come back to you soon

Customer: replied 3 months ago.
Thank you !

You meant to say that you want to purchase something from online website and then sell it at profit as business?

Customer: replied 3 months ago.
from stores etc.

I am providing you the information please read it as it will answer your many question. If still any queries are left then let me know, thanks.

Generally, it’s not illegal to resell an item that you have legitimately purchased. Once you have purchased something at retail it is yours to do with as you choose. Manufacturers tend to have little or no control over a product past the first customer they sell to.

However, if you are planning to do this as a business, a couple of issues arise. First, you will have warranty issues. If you run this business not as an official reseller but as an "under the table" reseller without an arrangement with the manufacturer, you risk invalidating the warranties that they provide to the first consumer, but not to the customers to whom you’ve resold the goods.

Second, there are trademark issues. If you’re using manufacturers' logos to advertise the products you’re reselling, you need their permission. Without it, you run the risk of getting embroiled in a trademark infringement lawsuit -- especially if your business does well and no longer flies under the radar.

Third, there are sales tax issues. With your current business model (buying retail and then reselling), you’ll have two levels of sales tax. You’ll need to pay to obtain the goods, and your purchaser will need to pay when you sell the goods. You could look into getting a reseller’s permit, but to get a reseller’s license you first have to enroll with your state tax department, which involves getting a sales tax ID number. And messing up on sales tax can involve penalties and interest being inflicted on you personally. You can’t hide behind your corporate entity if they arise.

Reference:- https://www.entrepreneur.com/answer/226401

Note:- If you found my information helpful then kindly accept or rate it as this is the only way for me to get credits, thanks.

Customer: replied 3 months ago.
Very informative thank you!

you are always welcome, kindly accept or rate the service so i can get credits for efforts, thanks.

Customer: replied 3 months ago.
Simply excellent!

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