Paying a USA business for U.K. held stock Q

[DSLiverpool]

I’m buying some stock from a USA entity that isn’t a U.K. entity.

The stock is here already in storage (they pulled out of the market) and question is

Do I pay VAT ? I can’t work it out, invoice is in $ from USA

Cheers

[DSLiverpool]

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.

[DSLiverpool]

Ean218 said:

So who paid the VAT and duty on importation?

The USA company 3 years ago

[DSLiverpool]

Yep just paid it - transfer to USA no vat on agreed figure.
If it goes well I’ll get better advice as this a trial order pending a £500k balance for the rest of the stock.