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Adam Hunt
Adam Hunt, Accountant
Category: Tax
Satisfied Customers: 385
Experience:  FCCA, FFA, FFTA
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If a HK company sells financial services to a uk company,

Customer Question

If a HK company sells financial services to a uk company, would the uk company need to account for VAT
JA: Have you talked to a tax professional about this?
Customer: Not yet
JA: Anything else you want the Accountant to know before I connect you?
Customer: Is there an import duty on services?
Submitted: 9 days ago.
Category: Tax
Expert:  Adam Hunt replied 8 days ago.

Hi, I am one of the experts. I will come back to you little later, plz bear with me.

Customer: replied 8 days ago.
Ok
Expert:  Adam Hunt replied 8 days ago.

No VAT because VAT is only for UK or EU countries. Outside EU means VAT is out of scope.

Have I answered your question?

Customer: replied 7 days ago.
I believe this answer to be incorrect
Expert:  Adam Hunt replied 7 days ago.

If sales or purchases are outside UK then UK VAT is out of scope. And also if someone else charges VAT to UK company then UK company cannot reclaim it back from HMRC (UK Tax man). If you have some other info then please do share. Thank you