My overseas client came back to me with further questions.
I need to clarify if a UK EORI will be advantageous in terms of their OMP Sales Business to Business or to individual customers that are VAT Registered and could claim back VAT/VAT Import Duties on their VAT Return.
Another question was about the 'Certificate of Origin' - my client brings motor parts from China and Taiwan to Romania. Thereon, from their warehouse in Romania gets sold through an OMP to UK. Would there be a chance that they qualify for relief on VAT Import Duties.
Thank you for your help and assistance.
I have a client based in Romania that supplies through 2 Online Market Places auto parts to UK Customers.
I need to establish and guide them on what VAT and reporting changes do they need to make, as they have a UK VAT Registration number and have quarterly VAT Returns to submit to HMRC based on their OMP sales.
Please send me the HMRC webinars and guidance applicable in this case, the VAT section/s applicable to make their transition as smooth as possible.
I have found some guidance but it is still unclear if they will need a VAT registration number as the OMP is deemed as the seller and has to charge VAT deepening on the value of the item/package sent to UK.
Please advise the correct entry in a VAT return of a asset (truck) purchased through Hire Purchase Agreement where total VAT is payable upfront. For the purpose of this exercise: Purchase Price is £60,000 VAT Paid £10,000 Net £50,000 ( the net amount is financed through the Hire Purchase contract).
Please confirm if VAT return has to show box 4 £10,000 and box 7 £50,000