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Yes. Fuels you purchased four years ago has almost certainly been consumed so no claim on that, anything you’ve already incorporated in jobs that you’ve finished/invoiced before you registered then no claim on those either.
Basically if you could go out and see it in your yard / van / hand on the day your VAT registration began/begins then you can claim for it otherwise you can’t. Also as I said before if you bought a bulk of 500 bricks for say £500 plus £100 of VAT then if on that day you’ve only got 100 (1/5) of them left then you’d only be able to claim £20 (1/5) of the VAT you we’re charged for them.
You’ll need to look at how you registered for UK VAT, if you registered as ‘Supplies of Digital Services (below UK VAT threshold) under VAT MOSS arrangements” then so long as you are under the UK threshold you can submit nil returns in the UK.
If you didn’t register in the UK just so you could use MOSS then you’ll need to account to HMRC for the VAT on your UK sales each quarter.
Digital services supplied to consumers or businesses outside the EU are outside the scope of EU VAT adn so wouldn’t need reporting on either MOSS or UK returns.
However you do need to be certain what is meant by digital services, as anything not in that definition may well be taxable UK sales.
I’d familiarise myself with the guidacne here: https://www.gov.uk/guidance/register-and-use-the-vat-mini-one-stop-shop and linked from there.
And as I said before as you seem uncertain as to what you’ve registered for, why you’ve registered, and what it covers, and you’re dealing with dozens of different tax regimes (do you know if you need to register in the US or South Africa etc. etc. if you’re making worldwide sales) then I really do think you need to sit down for a chat with an accountant who’s familiar with these issues as getting it wrong could be quite costly.
Goods are basically anything you buy that aren’t services. So materials, fuel, tools, vehicles, books, furniture, uniform, storage boxes, plants, etc. etc. If you can pick it up, kick it, sit on it, or throw it it’s goods!
Remember that to be able to recover VAT on goods they not only need to have been bought in the last 4 years, but you still have to own them at the date your VAT registration begins, so bricks you’ve already used in previously invoiced jobs won’t have any VAT claimable, bricks sitting in your yard you can. So you may need to do a stock take as on the day you register in order to apportion any prior bulk purchases.
The basic premise of VAT recovery is that you can only recover VAT on things you’ve bought where you’re going to be using those things to generate income that you’ll be charging VAT on.
Firstly the regular VAT will be all sales you make with a place of supply in the UK, so most ‘physical’ sales unless you’re selling to business customers in the EU or exporting goods.
The MOSS is used for sales of digital services, since digital services are supplied where the purchaser lives using the MOSS stops you having to register in every EU member state. So your MOSS returns will split out your digital services sales to each member state.
In both cases if you’re on quarterly retruns that’s when you make the retrun and pay any tax. There’s only an annual VAT return if you registered for the Annual Return scheme, otherwise you submit and pay each quarter.
I would guess that any Annuakl Return you’re asking about is your normal tax return where you’ll pay either Corporation or Income Tax, this return is nothing to do with VAT, thats for different taxes.
I think that if you’ve signed up for both a normal VAT registration and a MOSS registration without really knowing what either is for the best thing you can do is have a talk with an accountant, there are really too many pitfalls here to deal with in a back and forth on an internet forum. Are you sure you needed to register for either of those scheme’s is your turnover high enough to require it, or did you just register because you thought that’s what businesses do?
Yes you do. There are potentially fines for not notifying a change in circumstances, also remember it’s the entity not the business that’s registered so if you’re a partnership but registered as a sole proprietor then any fines, assessments, penalties will just be yours and yours alone.
Anyway to register you’ll need to fill out a VAT 1 (Registration application) with the partnership details, and if you want to keep the same VAT number (if it’s the same business continuing rather) you’ll also need to complete the VAT 68.
If you do transfer the number then it’s basically both of you agreeing that anything under the old sole proprietor can affect the new partnership i.e. if HMRC visit you and find that there was money that should have been declared whilst a sole prop then the partnership will need to pay it. So sometimes it’s best to get a new number when you change entity, so that “what happens in vegas, stays in vegas” as they say.
Look here for more info: https://www.gov.uk/government/publications/vat-request-for-transfer-of-a-registration-number-vat68
Just set up the contracts so you don’t pay them their money, or at least all their money, until you receive the VAT back from HMRC. Your worry seems to forget that the VAT they charge is only a temporary cost to you, so you just need to fund a temporary cash flow deficit or make sure that the outflow is after the inflow.
So in scenario 1 after VAT is paid and claimed you receive £1,142.86 and in the second scenario you only get £1,000 so you’re better off with the 5% rate.
Yes, if I had a quote or schedule which told me that the cost of goods was “£1000 (inc VAT)” then that is what I would be expecting to pay for the goods. And if the agreement I had with them was that charges would cover the suppliers cost of goods then I’d expect that to be the actual cost of the goods to them which would be the VAT exclusive amount.
Hi,
VAT is applied to any supply that is made in the course or futherance of business where that supply is made in the UK by a taxable person, and which is not specifically exempt (VAT Act 1994 S4).
So is a supply by a UK to UK company in the UK if they sell goods which don’t enter the UK? S7 (2) of the Act says “if the supply of any goods does not involve their removal from or to the United Kingdom they shall be treated as supplied in the United Kingdom if they are in the United Kingdom and otherwise shall be treated as supplied outside the United Kingdom.”
So goods not in UK and never coming to UK means no supply in the UK and therefore no UK VAT to apply.See also the HMRC manual on this: https://www.gov.uk/hmrc-internal-manuals/vat-place-of-supply-goods/vatposg3300
There may of course be local tax implications in either Canada or Saudi Arabia, but in short; no, you won’t charge VAT
It depends on the type of consumer and whether they are likely to pay the ‘full price or not’ but generally a retailer selling to the public is required to show the price inclusive of any taxes etc that the majority of customers will be paying.
The most relevant legislation is probably ‘The Price Marking Order 2004’ https://www.legislation.gov.uk/uksi/2004/102/contents/made
this may also help which is a recent discussion on the Advertising Standard Authority Code of Practice which also states that prices should be displayed inclusive in retail situations:https://www.asa.org.uk/news/to-include-or-not-to-include-vat-in-stated-prices.html
If you have a receipt from a VAT registered dealer showing that you’ve been charged VAT, then assuming you’re a fully taxable business then yes you’ll recover VAT the same as you would with materials.
If you’ve bought second hand there’s no guarentee that you have been chaged VAT though, it might be sold under a margin scheme which would mean theres no VAT recoverable by you, but the receipt/invoice should tell you that.
You charge (and then payover) VAT from your effective date of registration. So if you exceed the registration limit then you have one month to tell HMRC and then start charging VAT from the first of the following month (e.g. exceed during June, tell them during July, start charging from 1st August).
If you registered because you expect to make a full £85K or more in the next 30 days then you start charging as soon as you have that expectation/knowledge.
Of course if it’s to your advantage you could choose to backdate your date of registration in which case you’d charge VAT from whichever date you’ve opted for.
You have a liability to register either when your turnover in the last 12 months exceeds £85,000 (threshold as at todays date in July 2020), or you have reason to believe that your turnover in the next 30 days alone will be £85,000 or more. If you are looking at the past 12 months it’s always on a rolling basis, so not based on a tax or accouting year, e.g. at the end of June xx you’d look at turnover from 1st July yy through to 30th June xx, and in November xx you’d look at 1st December yy to 30th Novebmer xx etc. etc.
If your past turnover exceeds the threshold then you have 30 days to inform HMRC from the date you exceed and you will need to be registered and start charging VAT by the first day of the month following e.g. if you exceed the threshold in June 2020 then you have until the end of July to let HMRC know and you would be registered from 1st August.
If you expect that you will turnover a full £85,000 in the next 30 days alone then you need to inform HMRC and be registered from the date you realise this. So if on the 1st of July you were signing a contact which would give you £50K on 7th July and £50K on 21st July then you’d register for VAT from the 1st of July and need to account for VAT on that £100K you were about to rake in.
You do not mix the two methods though, so if on 1st July you knew you’d taken in £80k in the last 11 month and that you were signing a contract which would pay you £10k during July then you don’t need to register from 1st July as you’ll only be taking £10k in the next 30 days, but once you reach the end of July then looking back you’ll have taken £90k over the last 12 months, exceeding the threshold, and so would need to inform HMRC by the end of August and be registered from the 1st of September.
https://www.travelex.co.uk/vat-refunds is their online presence.
There is an FAQ section towards the bottom, including the question “I haven’t received my refund yet what should I do” which gives contacts for the four providers they work with. There is also a contact button giving phone line details for them at the top of that page.
Unfortunately following the reply above it’s in the 0.1% range that you’re looking. Freight Transport is a ‘General Rule’ supply which means that when it’s supplied to a business customer the supply takes place where the customer belongs (VAT Act 1994, Section 7A 2 (a)) Meaning that the place of supply of transport services provided to a US customer would be the US. So no UK VAT to charge.
Although you do need to be clear on what ‘based in the US’ may mean – Amazon is based in the US but if I shipped stuff for their UK branch then I’d be making a supply in the UK. So the place of supply will depend on the place of belonging of the business establishment most closely linked with the supply.
Some general discussion of the rules is found in this internal HMRC Manual:
https://www.gov.uk/hmrc-internal-manuals/vat-place-of-supply-transport/vatpostr3620And if you’re doing a lot of international work then the table later in the manual here: https://www.gov.uk/hmrc-internal-manuals/vat-place-of-supply-transport/vatpostr3640
will give a useful cross check. In this case the second table where the transport is from UK to France matches your situation (Spain being an EU member state same as France), and as you can see from the fifth line transporting from UK to an EU member state for a non-EU business customer is outside the scope of both UK and EU VAT (at least until they sort out how they’ll apply VAT and the place of supply after Brexit).I’m afriad no one here will be able to tell you.
Either you’ve dealt with Travelex at Manchester Airport who should have processed your refund and you need to talk to them. Or you had your retail export form stamped by the Border Force at Manchester Airport when you left the EU, in which case you should have sent that to the Apple Store in Leeds and you need to talk to them.
