Topic: VAT Exempt? Postage to NZ (Read 7519 times)

charlie_bendall · « **Reply #15 on:** March 27, 2011, 07:24:05 AM »

Exactly what i thought, but it seems to work somehow.

jimba101 · « **Reply #16 on:** March 27, 2011, 07:30:58 AM »

misread the post!

Talisman · « **Reply #17 on:** March 27, 2011, 07:32:24 AM »

I don't understand why you would struggle to deduct VAT, it is added onto your purchase price and all trade prices are excluding VAT, so if you buy at �100 + VAT your purchase price would be �120, you then mark up the product by your desired amount and then add VAT to it to find the selling price, so with a 40% mark up the price would be �140 + VAT = �168.

Buzz is correct with his calculation for deduction for overseas buyers. As a VAT registered company you can sell overseas with no VAT on the sale to save the buyer from reclaiming, I used to handle VAT free sales in the drinks trade, many to the Channel Islands.

The sum to deduct VAT is roughly 16.67% of the total cost.

Black Cat Cricket · « **Reply #18 on:** March 27, 2011, 07:43:06 AM »

Asad-

Buzz is correct. 120% of the VAT free price is �200, so the VAT free price is 200/1.2 = 166.67; just as it would have been 200/1.175 under the old VAT rate.

The VAT to pay on an item that is �200 ex-VAT would be �20, but this isn't the same as the amount of VAT in a �200 inc VAT price...

Mortimer · « **Reply #19 on:** March 27, 2011, 12:04:02 PM »

Quote from: gtstarped on March 26, 2011, 01:08:31 AM

Hi mate,

Thought this maybe a question others have, so I thought I'd post it here. As I'm located outside of Europe do I not become automatically exempt from VAT? Tried to website and it not appear to remove???

What is the postage cost of a bat to NZ?

Thanks

Stictly speaking, shiping goods outside the EU is a zero rated supply, not an exempt one.

This has no real difference for the purchaser, but has massive differences for the retailer.

Also, in the UK, it's normal for a retail business to quote VAT inclusive prices for domestic customers

cricketer13 · « **Reply #20 on:** March 27, 2011, 06:31:34 PM »

Quote from: jimba101 on March 27, 2011, 06:39:03 AM

if you buy something from the UK, you will always pay VAT. its then your job to claim back the VAT if your exempt from paying it. i think being in Canada you would be able to claim it back, if you had all the correct purchase documentations...

Yes, you are right. However, when I buy my bats from Mapperly or even Owzat they automatically take off VAT. In Uzisports case, my friend requested VAT exemption as he was buying from Canada but he was told that the company is not VAT registered yet.

Buzz · « **Reply #21 on:** March 27, 2011, 08:51:35 PM »

Quote from: 100 not out on March 26, 2011, 09:22:04 PM

Buzz are you a tax expert?

just to confirm - I am not a TAX expert - I did however do my Maths GCSE

the thing to remember is that the 20% VAT is added to 100% of the original price - therefore the full price with VAT is 120 % of the original price - so to remove the vat you need to get yourself back to 100%

If you take 20% off 120% of the price - you wont get the right answer... hence the calculation is (price)/120% to get 1% and then you multiply this by 100% to get the full price.
Hope that helps you all get an A* in your percentages papers

Hads45 · « **Reply #22 on:** March 29, 2011, 10:14:08 AM »

So say I was to buy somthing for hypoethically �220 and we say that works out to be �167. Past all that, If I bought somthing off UZI, how do i get it for 167?

Does that fact hes not VAT authoriesd mean I dont get it for 167 or somthing?

Buzz · « **Reply #23 on:** March 29, 2011, 10:23:01 AM »

firstly it would cost you �183.33 and you have to sort it out with Asad's overworked accountant... or try and reclaim the cash from HM Revenue... as I said, enjoy the paperwork...

cricketer13 · « **Reply #24 on:** March 29, 2011, 10:22:43 PM »

Quote from: cricketer13 on March 27, 2011, 06:31:34 PM

Yes, you are right. However, when I buy my bats from Mapperly or even Owzat they automatically take off VAT. In Uzisports case, my friend requested VAT exemption as he was buying from Canada but he was told that the company is not VAT registered yet.

Still waiting for clarification from Uzisports

Uzi Sports · « **Reply #25 on:** March 29, 2011, 11:00:19 PM »

we have received our VAT registeration and will be happy to offer Free VAT to our ciustomers outside EU. we can only do on the items which we have bought during our VAT registeration period. Hopefully this helps.
Plz send me an email regarding this if u have any questions
uzisports.co.uk@googlemail.com

Regards

Asad

Cover_Drive · « **Reply #26 on:** March 29, 2011, 11:26:56 PM »

So my Oblivion LE falls in your registration phase so it should be extempted, no ?

Uzi Sports · « **Reply #27 on:** March 29, 2011, 11:38:07 PM »

Any questions regarding VAT Plz email me as I mentioned in my post. This forum is not to discuss about VAT

Regards

Asad

Kulli · « **Reply #28 on:** March 30, 2011, 09:55:19 AM »

Just a quick one so not really worth an email, is it definatley outwith the EU and not the EEA?

Buzz · « **Reply #29 on:** March 30, 2011, 10:00:56 AM »

Outside the UK nothing to do with the EEA or EU...

Author Topic: VAT Exempt? Postage to NZ (Read 7519 times)

charlie_bendall

Re: VAT Exempt? Postage to NZ

jimba101

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Talisman

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Black Cat Cricket

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Mortimer

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cricketer13

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Buzz

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Hads45

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Buzz

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cricketer13

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Uzi Sports

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Cover_Drive

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Uzi Sports

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Kulli

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Buzz

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