I have a couple of questions I could really use some help with, so if anyone knows the answer Id be most appreciative.
I registered for VAT on 1st April this year. Have been a sole trader for 4 years.
I bought goods x 2 from the EU (germany) during this time., one paid for including VAT( they/I didnt have my VAT number at the time of ordering) and the second without VAT(when they had my VAT number)
How are these two transactions treated when completing a VAT return?
Also I'm unfortunately having to deregister for VAT as my turnover is due to fall well below the limit in the next year, as Ive lost a major customer.
Even tho I'll only have been VAT registered for 2 or 3 months, is there anything I can claim VAT back on from previous years eg. machinery for the business.
my basic understanding of EU vat is that if you are both VAT registered no vat is payable.
you would record the purchase without VAT as normal and invoice amount would be included in box 9 on the VAT return for the purchase without VAT and i think box 4 for the VAT element of the with vat purchase and the net amount in box 7 as normal.
Me thinks you have started a really good discussion here
For goods supplied by EC based companies and services directly related to those goods (eg: delivery): You need to fill in boxes 2 and 4 (nominal vat value, as if goods have been supplied by UK based company)
You also need to fill in invoice value (GBP) in boxes 6,7 and 9.
For services supplied by an EC based vat company (eg: computer support) to your UK based client: fill in boxes 1, 4, 6 and 7.
