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Post Info TOPIC: VAT on EU purchases
whitefields


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VAT on EU purchases
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Hi guys ,

We are a VAT registered co and intend to buy good from an EU country , VAT rate 24% . Do I have to pay VAT to the supplier ? Do I charge my UK customers as usual ,the 20% rate ?

 

Thanks



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WKM


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If you are VAT reg. in UK and make any supplier to UK you should charge vat, depending on which products you are selling. Thanks

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Haysden


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Give your UK VAT number to the EU supplier and they won't charge you the 24% VAT from their country. You have to account for acquisition VAT on your VAT return in boxes 2 and 4, so the net effect is nil. Put the purchase value in box 9. Your sale to customers in the UK is just a normal UK sale, so you charge UK VAT as usual.



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gbm


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It's a common pitfall, buying something from another EU country and not giving your VAT number. If you do get charged VAT from another country, you can't put it on your VAT return.

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whitefields


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thanks very much guys


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