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Post Info TOPIC: German Goods VAT
james1975


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German Goods VAT
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Hello all. Would be most grateful if anyone can help with this question

 

 

Im a sole trader, Turnover relatively small so not VAT registered.

If I buy goods from Germany (to sell in UK) which include 19% VAT, which boxes would I fill in for this on a Self assesment Tax Return?

 

Do I have to somehow convert the 19% German VAT to 20% UK VAT? If so how is this done



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YLB-HO


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The VAT you pay is just part of your purchase costs so you just record what you pay - this will automatically include the german VAT.

If you were buying goods in the UK, you'd pay UK VAT and just record the total cost as the VAT is part of it. Its the same with German VAT - just part of your costs of buying the goods.



-- Edited by YLB-HO on Friday 20th of April 2012 10:39:11 PM

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Frauke
BKN Book-keeper of the year 2011
james1975


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Thank you YLB. Thought that might be the case, but it seemed far too simple.

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