costco

[nextqueen]

im wanting to join costco but its wholesale i believe. someone told me you can set up a company so you can then claim back vat on purchases or something, im not very clear on this. any ideas?

[ethandron]

you can join as an individual member if you don't own a company, which is what we are. or, if you own a company you join as a trade member and as you say can claim the vat back. as an individual member you can have two cardholders, each cardholder can take two guests in. individual members have to pay vat on items they buy there if the item is subject to vat and all prices are shown with and without vat.
best thing to do is go along to your nearest costco and make enquiries. you are allowed in for a look around i believe but wouldn't be able to buy anything.

[ethandron]

here's a link:
http://www.costco.co....e/membership_home.htm

[nextqueen]

i dont own a company, my hubby works for an american company, doesnt look like i will be able to join i dont think.

[ethandron]

it would be worth a trip to ask them, i know all sorts of people who are individual members.

[bazwillrun]

Do what I have done, stand outside and ask somebody to take you in and they buy it on their card and you pay them the cash.

[ethandron]

a guest can pay on their own debit card so there's no need to do that.

[hc4361]

Interesting article here
http://www.guardian.c...rmarkets-better-value

[ethandron]

yep, we've found you do have to be choosy. most of their special offers, which you get sent advance warning of in a booklet, are well worth having if you use the product anyway.
also, the membership criteria tends to be more flexible than the website suggests. i know a couple of people who, on the face of it, wouldn't be accepted but who are actually members. i really think anyone considering joining should actually go to a store and ask.

[johne1892]

Hi nextqueen, if I read your question right I'm presuming that you aren't self employed or VAT registered? The question of reclaiming VAT back is with HMRC and not Costco.

You would have to register yourself as a VAT registered company and complete the appropriate VAT returns to reclaim the VAT £'s back. However, if your 'company' is just reclaiming VAT all of the time and not actually trading I think the HMRC may start asking questions!