Advice Needed About VAT

[amhsolutions]

Hi all

I run a ecommerce store and my customers are all USA based. I collect payments in US dollar.

I am starting to head towards the £72,000 turnover and wanted to know what I need to do? I know I don't have to charge VAT to USA customers, but how does it work ?

I have done my own tax returns myself, should I be looking at getting a accountant for this now?

 

[Scalloway]

From memory the VAT threshold is 83,000 at present.

 

[amhsolutions]

Thanks, yes I see it is over £85,000

 

[Scalloway]

As far as I can see non EU sales don't count towards your VAT threshold.

 

[Allan03]

You need to have a consultant or CPA regarding VAT for you to understand further and you will never confuse anymore.

 

[Nico Albrecht]

get help and advise from an accountant before HMRV knocks on your door.

 

[shelfcompanies-london]

There is no VAT in USA - probably all invoices should be exempt from VAT even son thresolds were exceed.

 

[STDFR33]

You would probably have been better voluntarily registering from VAT right at the very start if all your sales are to the US.

 

[Newchodge]

Please ignore the 3 posters before The ACcountancy Lab as they are all talking rot.

 

[shelfcompanies-london]

You would probably have been better voluntarily registering from VAT right at the very start if all your sales are to the US.

There is no reason to VAT Registration in UK if 100% of sales is out of UK ( no intention to trade ) and HMRC give not VAT Identificator Number . You can appeal this decision , but if you would like get VAT number - you must exceed thresolds in UK or register volountary , but it may be hardly .

 

[STDFR33]

There is no reason to VAT Registration in UK if 100% of sales is out of UK ( no intention to trade ) and HMRC give not VAT Identificator Number . You can appeal this decision , but if you would like get VAT number - you must exceed thresolds in UK or register volountary , but it may be hardly .

Garbage.

 

[Newchodge]

Garbage.

Personally, I prefer rot, but I accept garbage as a valid alternative.

 

[vindico]

It can be an advantage to register for VAT if you have sizeable input costs as you can then reclaim the VAT. Even better if your sales are outside the EU as then you won't have any VAT to pay but instead only some to reclaim on your inputs.