VAT registration

[Zute]

Hi
I have a business which involves U.K. people investing into a company in the US
I have agents sending me the paperwork and they then send the money directly to the US.
The investor is paid directly from the US and the agents commission is sent to me to pay them.
I am not VAT registered, however, I am paying £800 monthly in VAT to suppliers in the U.K. Am I best registering for VAT to claim this back? If so, what would the VAT situation be when I invoice the US company. ?

 

[lesvatadvice]

1. you cannot register for VAT unless you are entitled to do so.
2. If your income is essential from financial investments, this is usually exempt from VAT, which eans you cannot register for VAT.
3. Or, are you doing something else?

 

[Zute]

1. you cannot register for VAT unless you are entitled to do so.
2. If your income is essential from financial investments, this is usually exempt from VAT, which eans you cannot register for VAT.
3. Or, are you doing something else?

Thank you
The client is paid from the profits the US company make from producing crude oil. The client is essentially buying into the process of building a well and receiving profits. A bit like a dragon investor only they don’t get shares of the company. I am also paid from this as a commission for introducing the client.
Does that help?

 

[justintime]

How come you have to pay £800 a month in VAT?

 

[Zute]

How come you have to pay £800 a month in VAT?

From suppliers in the U.K.
Marketing etc...

 

[lesvatadvice]

I would certainly consider registering for VAT. You are not required to account for VAT on services provided to a non-UK business customer.

 

[Zute]

I would certainly consider registering for VAT. You are not required to account for VAT on services provided to non-UK customer

Thankyou