Vat on imported goods from eu

[Ola123]

Hello,

I hope you can help me as i am confused by different information available in internet.
If i buy goods - kids toys

-from EU and got vat number will the supplier add zero vat on the invoice?
And then i need to add vat when i sell to customers in UK?

-if i dont have vat number and buy goods from EU i have to pay vat to the supplier and my prices will be vat included?

- if i buy goods from uk supplier for reselling and got vat number will i be charged vat ?

How to decide what would be better for my company to be vat registered or not?

Thank you a lot!

 

[Robjam]

Hi

If you intend to import items that fall under VAT in the UK, then it would be better to register to VAT. As the items are subject to VAT, within the EU, if companies within member states who trade with one another are VAT registered in their respective companies then VAT is not charged from shipping the items from one EU member country to another as they are Exporting. It is more that the "Seller" does not have to charge VAT in their home nation as the items are being exported than you dont get charged for importing. Obviously once they arrive in the UK if you sell them to other people in the UK you will need to charge VAT, if they are educational toys though they will be VAT Exempt. If you buy items from a UK based supplier and you are also in the UK, if they are VAT registered you would be charged VAT regardless of your registered position, Hope that helps

 

[Scalloway]

If i buy goods - kids toys

-from EU and got vat number will the supplier add zero vat on the invoice?
And then i need to add vat when i sell to customers in UK?

Yes

-if i dont have vat number and buy goods from EU i have to pay vat to the supplier and my prices will be vat included?

Yes you will have to pay VAT to your supplier. VAT will be part of your costs. Your prices will not include VAT.

- if i buy goods from uk supplier for reselling and got vat number will i be charged vat ?

All UK VAT registered businesses will charge you VAT on goods they sell you. You reclaim this VAT when you do your VAT return. You deduct it from the VAT that you have charged on your sales.

How to decide what would be better for my company to be vat registered or not?

You need to sit and do some sums to see what come s out best for you.