Hi there,
I am running a new company which provides services to UK and many other countries. The Ltd is registered for VAT. When an invoice is issued within UK and VAT relevant, then 20% is charged. From understanding when issuing invoices in EU countries there is no VAT charge as part of the EU policy regarding VAT. Is that correct? And lastly, what if the Ltd issues an invoice to other countries such as China or USA? is VAT charged? and if yes is it still same UK?
Please any thought/view to that matter would be appreciated..!
thanks
Replies (2)
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Depends
as usual on the detail of what you are supplying to whom. So:
1, Ask your accountant
2. If this international business has decide not to use an accountant, read https://www.gov.uk/government/publications/vat-notice-741a-place-of-supp...
The Whom
Is particular important with regard to the VAT/GST/IVA status of the customer if they are trading or a business within the EU.
Also as important is ensuring you have adequate records to support your treatment of each and every transaction - get an accountant to review your circumstances and set you off in the correct manner.