Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Goods purchased in UK, sold in Ireland & UK

  • 16-03-2012 12:49pm
    #1
    ameliadad
    Banned (with Prison Access) Posts: 55 ✭✭


    Hi,

    Am doing my first VAT3 return. I'm hoping someone can tell me if I've got my calculations correct.

    Purchases

    900 Jumpers @ £6, Total Gross = £5400 ~ €6498. VAT = nil

    Sales

    500 Jumpers Sold @ €19.99 in R.O.I., Total Gross = €9995 . VAT charged = €1734.

    400 Jumpers Sold @ €19.99 to UK, Total Gross = €7996. VAT charged = 0


    VAT liability = €1734. Is this correct?

    Thanks, help appreciated.


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    Looks Ok.

    Dont forget that you have to account for the Vat on the imported jumpers on the reverse charge mechanisim. Add the notional vat on the jumpers at the equivalent Irish rate to the sales and also add the same figure to the purchases.

    Kind Regards


    David Branigan


  • #3
    ABEasy
    Registered Users, Registered Users 2 Posts: 566 ✭✭✭ABEasy


    How are you accounting for VAT on the uk sales, if business to business and you have a VAT number for the uk business then you are correct (need to complete veis return) but if sales to general public or non VAT registered customers then Irish VAT should be applied (unless you exceed the direct sales threshold for the uk in which case you need to register for uk VAT and apply it to uk sales).


Advertisement