If I purchase items in France and they do not include tax and then sell these goods on in the UK, will I need to pay the tax back eventually? I have a VAT code so am registered for UK VAT.
2007-09-27 12:03:34 · 4 answers · asked by Ryan S 2 in Business & Finance ➔ Taxes ➔ United Kingdom
If this was a business to business transaction it would have been zero rated as it took place between two EU countries.
You would have had to provide your VAT number to the French supplier when ordering.
You will charge your customers VAT in the usual way but will not have any input tax to set against it as you haven't paid any.
2007-09-27 20:25:30 · answer #1 · answered by tringyokel 6 · 1⤊ 0⤋
Yes, else you'll have Inland Revenue breathing down your neck with Excise and Customs. They expect you to do it with your annual accounting..
2007-09-27 19:06:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Black market or legally imported? You know which method and the tax liability.
2007-09-27 19:14:31 · answer #3 · answered by john 4 · 0⤊ 0⤋
Did you bring those yellow ears from France as well then?
2007-09-27 19:08:00 · answer #4 · answered by Blokheed 5 · 0⤊ 1⤋