How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax, Accountant
Category: Law
Satisfied Customers: 4791
Type Your Law Question Here...
bigduckontax is online now

I have imported goods from other country to UK and resale

Customer Question

I have imported goods from other country to UK and resale them to one of my client in Aug/Sept/Oct 2015. I paid all import duties and VAT upfront during the import port of the UK through CHA. Now part of those goods are rejected by client arround £35000 to £37000 what is the correct procedure to claim back my VAT and what are the option to scrap those goods?
Submitted: 1 year ago.
Category: Law
Customer: replied 1 year ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

Firstly the VAT charged by Customs on importation may be reclaimed as an input tax on your quarterly return. The VAT you charged the customer on sale must be used to reduce your output VAT in the period that the product is scrapped. The scrapping balance once the VAT has been stripped out is chargeable to the profit and loss account. Of course your VAT account will be skewed over this transaction, but this cannot be avoided.

I do hope that you have found by reply of assistance.

Customer: replied 1 year ago.
what service you can provide me in this offer ?
Expert:  bigduckontax replied 1 year ago.

Have you not understood my original response to your question?