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VAT outside ROI

  • 11-11-2005 10:25am
    #1
    xabi
    Registered Users, Registered Users 2 Posts: 3,020 ✭✭✭


    I am registered for VAT in Ireland, was up North recently buying somthing not related to the company and was told i could use my VAT number to buy the item VAT free. My question was, does this come back the the Revenue in ROI?

    X.


Comments

  • #2
    BrianD
    Closed Accounts Posts: 7,221 ✭✭✭BrianD


    It is illegal as buying a PC through your company but for your own personal consumption. The NI retailer will make their returns to Inland Revenue and VAT exempt transactions will be identyified. Obviously if you get a revenue audit they may ask to see the item you purchased and you willhave to have it listed as a company asset.


  • #3
    xabi
    Registered Users, Registered Users 2 Posts: 3,020 ✭✭✭xabi


    So the Inland Revenue in NI would send my VAT number with details of purchases to the Reveune in ROI? Is that correct.


  • #4
    EKRIUQ
    Registered Users, Registered Users 2 Posts: 4,387 ✭✭✭EKRIUQ


    You can purchase items anywhere in the EU vat exempt and only pay the VAT when you sell the items. As you'll have no vat to claim back you'll be paying 42% of the original cost of the item.
    So the Inland Revenue in NI would send my VAT number with details of purchases to the Reveune in ROI? Is that correct.

    Highly unlikely I sure the inland revenue in the UK aren't too concerned about another business in another state. Just keep records to the items purchase for reference, any questions asked just say you sold the item.


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