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EmmaJ
Guest
Hi guys..Can someone tell me please what do I pay VAT on? I know I probably sound stupid but... I import cosmectics so I have a O% vat from suppliers as it's UK based. I sell the goods on and get paid. Do I charge the VAT on the cost price pulse my mark up?
Is the VAT based on the cost price or the selling price or the difference of the two? Confused! Accountant is basing it on... Retail price..before Reps get their commission and before I do..so my VAT bill is huge. Any help would be gratefully appreciated..
Is the VAT based on the cost price or the selling price or the difference of the two? Confused! Accountant is basing it on... Retail price..before Reps get their commission and before I do..so my VAT bill is huge. Any help would be gratefully appreciated..