advice needed re imports

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
could anybody please explain to me the rules on imports (purchases) from eu states to uk regarding vat and duty charges <BR><BR>any help would be gratefully received<BR><BR>regards<BR><BR><BR>zippy

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    advice needed re imports

    Hi Zippy<BR><BR>Firstly, you do not pay any VAT on purchases from the EC. "European Movement of goods" Act or something. Check out the HMC&E website. Very handy but quite hard to understand!<BR><BR>Secondly, your EU supplier must include both your VAT number and theirs. <BR><BR>Finally, you must include the purchase in your quarterly VAT return, don't quote me here but I think its box 4. <BR><BR>Think that's all......<BR><BR>Good luck!<BR><BR>Helenx<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    advice needed re imports

    hi helen<BR><BR>that makes things a bit clearer<BR><BR>thanks a lot for your help<BR><BR>regards<BR><BR><BR>denise(zippy)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    advice needed re imports

    you must include the purchase in both sales & purchases. This is to stop partially exempt businesses escaping form suffering input tax on the purchases relating to their exempt sales.<BR>You are effectively buying from yourself!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    advice needed re imports

    Hi Zippy<BR><BR>You might have to start doing Intrastat too. It depends on how much you buy/sell within Euroupe, there are thresholds set. There is more information on their website.<BR><BR>http://www.uktradeinfo.com/index.cfm?task=intrahome<BR><BR>Claire

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