Paying a USA business for U.K. held stock Q
Discussion
DSLiverpool said:
Thanks Andy & Pointy
I’m paying 10p in the £ for the stock so I’m ok absorbing the VAT if charged it’s just they can’t charge it.
They sent it over but never actually set up to sell it as a third party was supposed to cover the import but didn’t.
So who paid the VAT and duty on importation?I’m paying 10p in the £ for the stock so I’m ok absorbing the VAT if charged it’s just they can’t charge it.
They sent it over but never actually set up to sell it as a third party was supposed to cover the import but didn’t.
Mr Pointy said:
It's a bit difficult to do though if they haven't sent him a VAT invoice with a VAT number on it.
.
Quite!.
I wouldn’t worry about it too much, HMRC tends to worry more if they lose out.
currently if OP is VAT registered the end user will pay VAT on OP’s sale
(Which would be same net impact if American Co had charged VAT & then OP had reclaimed….)
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