VAT

[awhitman]

Hi

I have just registered for VAT but in the past few months have purchased a number of goods for resale from other EU countries, I have paid VAT on these and still have them in stock, am I correct in saying I can just recover the £ equivalent of the foreign VAT on my first VAT return?

Also am I correct in saying that my suppliers should be zero rating their supllies to me now that I am VAT registered if so how do I get them to do this?

If I can get them to do this am I right in saying I still have to include this on my VAT return as follows e.g. €100 purchase translated = £50 estimated

Box 2 = 8.75
Box 4 = 8.75
Box 9 = 50.00

No additional VAT payable or recoverable.
Thanks in advance

[Williams lester]

You can only reclaim UK VAT on a UK VAT return.

To zero rate future EU purchases give the supplier your VAT number.

[elainec100@cheapaccounting]

your accountant can help you to recover the vat on this via the agent EU vat on line system - but as far as I know (any one correct me here) it is only available to accountants??

[Tom McClelland]

I once bought something that had EU VAT on it. I was able to get a form from the foreign country's VAT office to reclaim the VAT and they refunded my bank account directly, and then I had to charge myself the UK VAT (like reverse charge).

[elainec100@cheapaccounting]

For info this new system was recently introduced. Our VAT expert Steve Kettle told me about it.

More info here if anyone is interested

http://www.hmrc.gov.uk/agents/started-vat.htm#5

[Tom McClelland]

For info this new system was recently introduced. Our VAT expert Steve Kettle told me about it.

More info here if anyone is interested

http://www.hmrc.gov.uk/agents/started-vat.htm#5

Ah, right. That link states that the hoops that I had to jump through are now obsolete and cannot be jumped. New shiny internet-enabled hoops have been constructed that only agents are permitted to jump, lest amateurs dent or muddy the hoops.

So the apparent progress is that something I used to be able to do for myself, I now have to hire an agent to do for me. But the agent will find it easier that it used to be.

EDIT: Actually, it seems that I could still do this for myself: http://www.hmrc.gov.uk/vat/managing/international/overseas-traders.htm

[3pic]

Ah, right. That link states that the hoops that I had to jump through are now obsolete and cannot be jumped. New shiny internet-enabled hoops have been constructed that only agents are permitted to jump, lest amateurs dent or muddy the hoops.

So the apparent progress is that something I used to be able to do for myself, I now have to hire an agent to do for me. But the agent will find it easier that it used to be.

EDIT: Actually, it seems that I could still do this for myself: http://www.hmrc.gov.uk/vat/managing/international/overseas-traders.htm

You can indeed do it for yourself, you just need to be registered for online VAT returns with HMRC