VAT Query for UK Business

Rajan96

Hi everyone!

I hope you all are doing well! I wanted to learn more about how VAT works for a UK business trading internationally i.e. trading with EU and Non-EU Countries.

Basically, I just want to know what is the correct treatment when purchase/sales of goods from the Europe and purchase/sales of goods from Non-EU countries. I am already doing research and would like to know from experienced Accountants working in the UK with international businesses.

Thanks in advance.

AndrewLeyland

There is a lot of information to find out but a good start would be looking over the course material for Tax Processes for Businesses which is a level 3 exam but I would recommend employing a licensed accountant.

Rajan96

Thanks Andrew. Appreciate your response on this thread. I have got my upcoming ACCA Tax Exam. I am pretty sure it will help me learn tax a lot more.

douglasstroud

Have a read through all the VAT notices on the HMRC site, that will be the best source of information you can get.