Consignment Stock & VAT

crispy Registered Posts: 466 Dedicated contributor 🦉

Could anyone give me some advice with the following transaction:

Company has received some consignment stock from outside EU and has paid amounts of £ 10k Duty and £ 36k of VAT. As there is no actual purchase cost of the stock, how should this be shown on the VAT return. I have 'shipping invoices' for the consignment - would I include this in Box 7 for inputs? Without entering their value onto the return the whole calculation looks lopsided and will no doubt be rejected and returned.

Any help would be great. Thank you
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