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Buying VAT Free from the UK.

  • 17-05-2013 11:37am
    #1
    miko
    Registered Users, Registered Users 2 Posts: 19 ✭


    I am looking to purchase some paint for personal use from the UK and the company said if I have a VAT number I can buy the paint VAT Free. So I was wondering if I could give my family company's VAT number and pay with my personal card? Would the company be liable for VAT when imported?


Comments

  • #2
    namenotavailablE
    Registered Users, Registered Users 2 Posts: 59,702 ✭✭✭✭namenotavailablE


    Afraid that this won't allow the goods to be ultimately VAT free.

    The VAT free rule only applies to purchases of goods by the business which are either sold on by it or used in its operations. If the goods are appropriated from the business for personal use, the business has to apply a sales VAT charge (technically, this is known as a 'self-supply' - see page 4 of this booklet) which is done by increasing its own VAT on sales in the period during which the self-supply takes place.

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



  • #3
    miko
    Registered Users, Registered Users 2 Posts: 19 ✭miko


    But how can it be tracked back to the business if I pay with my personal card, does the company in the UK send the information somewhere?


  • #4
    thecommander
    Registered Users, Registered Users 2 Posts: 2,537 ✭✭✭thecommander


    miko wrote: »
    But how can it be tracked back to the business if I pay with my personal card, does the company in the UK send the information somewhere?

    Yes. The send a list of VAT numbers to the UK Revenue, who then forward it to the Irish Revenue. If that company is audited they can ask about the invoices and what was bought.


  • #5
    miko
    Registered Users, Registered Users 2 Posts: 19 ✭miko


    Cool thanks for the replys. Just wasn't sure. The salesman over there seemed to think we could use an Irish VAT number and they didn't send the info anywhere but it sounded too good to be true!


  • #6
    Corkbah
    Registered Users, Registered Users 2 Posts: 1,668 ✭✭✭Corkbah


    miko wrote: »
    I am looking to purchase some paint for personal use from the UK and the company said if I have a VAT number I can buy the paint VAT Free. So I was wondering if I could give my family company's VAT number and pay with my personal card? Would the company be liable for VAT when imported?

    how much paint were you planning to purchase to say that you even considered this ? - you will most likely only be saving a couple of euro.


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