Selling a piece of machinery (car) to eu

[PeterY27]

I'm selling a race car which is liable for VAT as i claimed the vat back at the start of the year. The buyer i have is from another EU country, with a vat registered company and wants to buy it VAT free as he is going to export it, i believe to Cyprus.

How do i go about invoicing it and making sure i am covered with no liability in the future for the vat fee?

[Will Blackham Lotus]

You'll need the VAT registration number of the company you are selling to, ideally on an official order for the vehicle.
Check the VAT registration number is valid here : http://ec.europa.eu/taxation_customs/vies/

You'll also then need proof of export to the company above (shipping waybill etc)

Basically the more paper trail you have the better, should you have a VAT inspection in the future

[raddog]

We do a lot of EU VAT trading and it's very simple, As long as their VAT number is legit, (check here): https://europa.eu/youreurope/business/vat-customs/check-number-vies/index_en.htm

You invoice as usual with VAT zero rated, T4 accounting code.

You'll have to declare the sale to HMRC via EC Sales List, usually before your next VAT return: https://www.gov.uk/guidance/vat-how-to-report-your...

Then on your next VAT return the sale goes in the relevant box