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RodneyA814
RodneyA814,
Category: Tax
Satisfied Customers: 161
Experience:  Expert
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I need assistance with VAT. No. It's EU transition and place

Customer Question

Hi, I need assistance with VAT.
JA: Have you talked to a tax professional about this?
Customer: No. It's EU transition and place of supply related.
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: No. Please connect me
Submitted: 8 days ago.
Category: Tax
Customer: replied 8 days ago.
I would like to purchase from EU, to be more specific from Netherlands to UK. Then I would sell them overseas in subcontinent. What are the VAT implications? How can I minimize costs and Claim VAT in Netherlands and UK? What are process I need to follow?
Expert:  RodneyA814 replied 8 days ago.

Hello there,

How can I be of help please?

Customer: replied 8 days ago.
Hi,I would like to purchase from EU, to be more specific from Netherlands to UK. Then I would sell them overseas in subcontinent. What are the VAT implications? How can I minimize costs and Claim VAT in Netherlands and UK? What are process I need to follow?
Expert:  RodneyA814 replied 8 days ago.

As a UK VAT registered business importing goods to the UK, you will be able to account for import VAT on your VAT return, rather than paying import VAT on or soon after the time that the goods arrive at the UK border.

VAT registered UK businesses continue to be able to zero-rate sales of goods to EU businesses. EU member states will treat goods entering the EU from the UK in the same way as goods entering from other non-EU countries. This means import VAT and any customs duties (tariffs) are due when the goods arrive in the EU.

Customer: replied 8 days ago.
Thank you Rodney, does it mean I have to have two accounts in two different places? One in Netherland and another in UK to purchase the product and claim the import VAT?
Step1: purchase from EU countries.
Step 2: import to UK.
STEP 3: Claim the VAT in EU country through creating accounts in EU.
Step 4: export to India.
Step 5: claim the VAT in UK through submitting VAT return.The trade will take place in India. The actual buyer of the product from EU is in a India, will sell it to a consumer in India.As a trader we are only thinking of using UK as it is easier to export from UK to India.is there any other way to reduce the paperwork to do business from Netherland < UK < India?
Can I just place it in customs storage in UK without the actual product entering UK mainland and then export to India, without doing the paperwork in UK and claim the VAT from EU only.
Expert:  RodneyA814 replied 7 days ago.

Yes, you would need to be registered both in the UK and in the EU country. Note if you keep your goods in EU and supply to India from there, it would be outside the scope of UK VAT. The paperwork will be the same wherever you export from so best not let it be a deciding factor.

Customer: replied 7 days ago.
in UK theres no option to import the product and export it without dealing with the paperwork? Even if it's under the customs storage?
Expert:  RodneyA814 replied 6 days ago.

You can leave the goods in private customs warehouse but you’ll need to make a customs declaration to remove the goods or declare them to another procedure.

If you move your goods to another customs procedure such as you re-export the goods directly from the customs warehouse, no charges will be due.