Goods purchased in UK, sold in Ireland & UK

ameliadad · 16-03-2012 01:49PM #1

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.

dbran · 16-03-2012 02:03PM

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

ABEasy · 16-03-2012 02:08PM

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).

Goods purchased in UK, sold in Ireland & UK

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