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Our parent company is based in China and we are in UK. We sometimes order parts from our parent company in China which are sent to UK. They send us the goods and prepare invoices in US dollars and add 20% to each invoice which they label VAT. We do not pay for the goods as such but they are processed through and Inter Company account, which basically is a mix of what we owe them and what they owe us for various things. Does this VAT on the invoice sound right (bearing in mind it is in US dollars) or is it actually meaningless. I am aware that when goods come into UK, our couriers often pay VAT on imports and recharge us. When this happens, I often cannot tie up some of the entries on a C79 or postponed VAT statement to actual transactions as there does not seem to be an obvious link so I am not happy to reclaim VAT from C79’s if I dont know what it actually relates to. I do claim the VAT on the C79 if I can match it to information from the courier’s invoice when recharging. Any ideas on this please would be very helpful. Thank you
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