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  1. #1
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    Deferred VAT and Customs

    Do any of you small business peeps out there do their own deferred VAT and customs work for goods? We're looking at whether or not it's a job that's best handled by experts (as the tools are expensive and process time-consuming) or if it is something we could do in-house, on-the-side so to speak, rather than with a dedicated person doing it. We typically get a couple of shipments in per week, usually from the EU.
    The views expressed are my own, worth what you've paid for them, are not on behalf of anyone else and not those of any company I work for etc.

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    Established TDF Member steelemonkey's Avatar
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    Change the company name to "Amazon" and you won't have to bother about it.
    Paul.
    If God had meant us to breathe underwater, he would have given us larger bank balances.
    Human beings were invented by water as a means of moving itself from one place to another.

  3. #3
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    Use fedex and dil and a smaller shipper - all orders have landed in UK without any problems. Added VAT and EORI number to the shipment and they seem to have just magically appeared ... of course there might be a mountain of paperwork due that hasn't arrived ... who knows

  4. #4
    bottlefish Stuart Keasley's Avatar
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    What Graham said. My imports come in via FedEx (or occasionally UPS), they deal with it all for me, bill me for any import taxes plus a handling charge. However under the new regime, there is no VAT to pay on import (you can pay and reclaim the VAT on imports on the same return), so the majority of stuff comes through without charges at all. Latest shipment was ordered from Germany on Monday, arriving with me today.

    Haven't clarified what, if anything, needs to be done with the VAT return yet, will get to that in April....
    Please visit bottlefish for my personal web site, Quay Cameras to chat to me about the cameras and kit that I sell

  5. #5
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    Quote Originally Posted by graham_hk View Post
    Use fedex and dil and a smaller shipper - all orders have landed in UK without any problems. Added VAT and EORI number to the shipment and they seem to have just magically appeared ... of course there might be a mountain of paperwork due that hasn't arrived ... who knows
    Quote Originally Posted by Stuart Keasley View Post
    What Graham said. My imports come in via FedEx (or occasionally UPS), they deal with it all for me, bill me for any import taxes plus a handling charge. However under the new regime, there is no VAT to pay on import (you can pay and reclaim the VAT on imports on the same return), so the majority of stuff comes through without charges at all. Latest shipment was ordered from Germany on Monday, arriving with me today.

    Haven't clarified what, if anything, needs to be done with the VAT return yet, will get to that in April....
    Thanks for the feedback gents. So these couriers are also handling their part of the VAT deferment as part of the job then?
    The views expressed are my own, worth what you've paid for them, are not on behalf of anyone else and not those of any company I work for etc.

  6. #6
    Established TDF Member Chrisch's Avatar
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    Quote Originally Posted by jturner View Post
    Thanks for the feedback gents. So these couriers are also handling their part of the VAT deferment as part of the job then?
    As I understand it the ability to defer the VAT payment to the excise when you import is a deal between you and the excise. I have set up FedEx import but they do not defer the VAT. In order to delay payment you set up an a account with HHRC for that purpose and grant them direct debit to your bank account. They then take out the VAT at a later date than the date of the import.

    We were rung up a number of times by a call centre working on behalf of the HMRC and some snotty cow telling us we MUST do this. In the end the missus got snotty back. As a general rule I do not grant direct debit to any organisation unless I have to (so PAYE for example). Since this red tape is only required if you wish to defer the VAT we did not bother with it (so my knowledge is imperfect). The VAT element for us is not enough of an issue to add to the red tape as opposed to just paying up front as this is not (in turnover terms) enough of a percentage of our business.

    My sideline in chemicals this would have been a necessity as such a large percentage of the stock was imported. However the REACH has killed that company completely so again I have not spent enough time investigating the small print.
    We give 350m a week to the EU. Let's give it to Dido Harding instead.

  7. #7
    bottlefish Stuart Keasley's Avatar
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    Quote Originally Posted by jturner View Post
    Thanks for the feedback gents. So these couriers are also handling their part of the VAT deferment as part of the job then?
    I couldn't say what the mechanics were/are, but basically Fedex as the import agent deal with the import, send me a bill for any vat and duty that may be due, money tends to leave my account two weeks after import.

    Although VAT is no longer due at point of import, so not sure that you'd even need a VAT deferment account?
    Please visit bottlefish for my personal web site, Quay Cameras to chat to me about the cameras and kit that I sell


 

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