irishbogger
Registered User
- Messages
- 47
Hi all,
Sole Trader, VAT registered, purchasing good for re-sale.
So, i'm familiar with purchasing from UK at 0%, then reverse charging for VAT etc...
I want to purchase from a UK site as prices are competitive, however I would have to use my virtual UK address, hence would have to pay UK VAT.
Their Irish site is almost 80% more expensive for products.
Rather than pay 0% UK VAT, can I pay UK VAT, and then on re-sale charge the 23% IRL VAT? If so, I presume I use Revenue currency conversion rates to enter the purchase price / VAT amount in my accounting software as an expense, so everything works out? Or am I totally off?
Many thanks.
Sole Trader, VAT registered, purchasing good for re-sale.
So, i'm familiar with purchasing from UK at 0%, then reverse charging for VAT etc...
I want to purchase from a UK site as prices are competitive, however I would have to use my virtual UK address, hence would have to pay UK VAT.
Their Irish site is almost 80% more expensive for products.
Rather than pay 0% UK VAT, can I pay UK VAT, and then on re-sale charge the 23% IRL VAT? If so, I presume I use Revenue currency conversion rates to enter the purchase price / VAT amount in my accounting software as an expense, so everything works out? Or am I totally off?
Many thanks.