vat

  1. L

    Amend a VAT reverse charge invoice

    Hi, We are a business running in the UK and purchase B2B services from abroad. We recieved an invoice from a supplier who did not know about reverse charge procedure. The invoice which was subject to a reverse charge does not state any phrases like 'Reverse charge: Customer to pay the VAT...
  2. G

    Do foreign sales count towards vat threshold ?

    Do foreign sales count towards vat turnover threshold ? Eg if the Uk domestic turnover was £60k and the international turnover was £60k does that put the company above the vat threshold ? Eg £85k Does the answer depend on wether the international turnover is EU or rest of world ?
  3. W

    VAT Correction

    Looking for some advice before I act on this, please! I'm in a VAT situation that I'm finding a little confusing. I started contracting for a company X earlier this year and first invoiced them during the Apr-Jun VAT quarter. At the time, Company X told me they didn't have a UK office, and to...
  4. B

    Amazon/eBay VAT with QB

    Hi All, Need a little help on what I need to do as i've got myself in a little muddle. I registered for VAT with a start date of October 1st. Certificate arrived at the weekend and I Immediately updated eBay and Amazon with my VAT number. Since then small issues have arose of which i need to...
  5. X

    Should I register for VAT

    I am a sole trader who runs a website, I earn 90% of my money from ads/sponsorships. I will be buying bikes which are £4000+ so I could benefit from the VAT savings from that. If I claim back more vat then I have gotten from customers every month is that fine?
  6. B

    Importing Zero Rate Items

    Hi, I'm looking to import a product from Norway. This is a zero rated product (food based HS 1905 90 8000). Do I pay VAT at import and claim back, then sell zero rated or will the import itself be zero rated so I don't need to claim back. The benefit of this item is it also 0% Duty so i'm...
  7. B

    B2B moving to VAT registered

    Hi, I'm moving into Wholesale/distribution and therefore really should be VAT registered for this. Im currently selling to consumers at this point and the inventory I sell for that is not the inventory I will be selling B2B. As I'm moving over I presume (please correct me if I'm wrong) I will...
  8. J

    Reclaiming Import VAT

    Hi everyone, I'm a board game publisher, a UK VAT registered Ltd company. My games will be manufactured in Poland, EU and then sent to fulfilment hubs, one in the UK and the other one in the USA. I can imagine I will pay Import VAT and customs fees when my games cross the border in the USA...
  9. F

    Margin VAT question

    Hi, Thank you looking at me question! I am currently researching about starting an import business (skincare from outside the EEA - Japan/ South Korea). I have seen alot of the other businesses doing the same are only charging their customers a VAT rate of 16.67%. I am guessing they are only...
  10. G

    Am I missing a trick reg wholesale + VAT?

    Hi Folks, A couple of friends and I are setting up a very small side business for a pretty niche market (Will be sold through online store, national events and getting some shelf space in a shop with similar interests), I made contact with the only UK supplier I am aware of and as expected they...
  11. M

    Lending money to limited company for leasing car

    Good afternoon. I recently started limited company, as being a new company it is challenging to find a leasing company that will accommodate. I have the personal funds available to lend to the business in order to pay the full leasing term in one payment (still waiting back to hear if this...
  12. F

    VAT on Business Expenses

    Hi I apologise if this is a stupid question, I tried my best to do my own research for this query, but I couldn't find anything solid. I am in the middle of starting my own e-commerce business. I am yet to meet the £85k threshold for VAT, but I am looking to register soon as I would like to...
  13. S

    Looking for any advice on starting a shopify/dropshipping business

    I'm currently looking into starting a shopify or drop shipping business but I'm having alot of issues trying to work out a few things. Although I wouldn't be shipping the products directly would I need some kind of public liability insurance? I also can't seem to work out exactly how I go...
  14. R

    VAT On Fast-food Sales Channels

    Hello, Run a fast-food company who uses Just Eat as one of it sales channels. Just eat charge us a commission of 13%. I am a little on what I should be paying VAT on. Pleas. e take a look at the example below Example Vat Rate: 20% Commission Rate: 13% For example my company makes...
  15. O

    Digital bookkeeping advice

    Hi all, I'm after advice from anyone who reconciles their books using xero, quickbooks etc. and also receives income via a payment provider - in this case stripe. I run a VAT registered business and have just started recieving some payments via stripe links. The payment provider then pays out...
  16. Starting the new financial year off right

    Starting the new financial year off right

    April marks the end of one tax year and the start of another, so now’s the perfect time to improve your financial processes. Whether you’re self-employed and just keeping track of your own transactions or you’re running a Limited Company with several staff, here are some top tips on getting...
  17. H

    Importing from Kenya to UK

    Hi all, I am going to be importing goods (stuffed animals) from Kenya and am a bit confused and hoping for some guidance. This is my first time starting a business so apologies for anything seemingly obvious, please be kind. I understand that I will pay import duties & VAT on goods, however I'm...
    • hazen
    • Thread
    • company-formation overseas-trade sole-trader startups vat
    • Replies: 3
    • Forum: Overseas Trade
  18. T

    How to collect Vat from China

    Hi all I’ve had a limited company for 2 years, the basic premise of my business is buying things from China where I have a contact sending money to their account and then selling in my store which has worked out well so far, last year I hit 85k so I signed up for the flat rate scheme and been...
  19. T

    VAT refund on a used Van on first VAT return. Any issues with doing so?

    I am starting a small B2B IT service company which I will require a company van. I don't expect to be a big company and the services I provide are quite niche/bespoke. I want to become VAT registered as it will allow me to get VAT refunds on large purchases I need to make, such as a company van...
  20. agavril

    VAT and Expenses question

    Hi guys, I would need some advice, on 2 topics. I am interested in opening an UK LTD company. I live in Italy and already have the business established here. Basically, I am buying luxury goods from Italy and selling them in SE Asia passing thru Hong Kong. As the taxes are killing me in Italy I...
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