ChatterBank0 min ago
vat on a product
What if the stock you buy in comes from abroad and they don't charge VAT. You still have to pay VAT In this country even though you can't claim Vat back........is this correct...any help please
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It sure is correct.
If you buy directly from an overseas organisation, duty including VAT is due at the point it comes into the UK. Customs and Excise typically impound the import or force the shipper to pay the necessary charges - which the shipper will want from you prior to delivering the parcel.
If you buy a product made overseas from a UK-based distributor, it charges you the VAT, and deals with the input VAT and output VAT on the transaction with HMRC.
You can't avoid either death or taxes.
If you buy directly from an overseas organisation, duty including VAT is due at the point it comes into the UK. Customs and Excise typically impound the import or force the shipper to pay the necessary charges - which the shipper will want from you prior to delivering the parcel.
If you buy a product made overseas from a UK-based distributor, it charges you the VAT, and deals with the input VAT and output VAT on the transaction with HMRC.
You can't avoid either death or taxes.
1 to 2 of 2
