Company expense when bought outside UK

[konsultant]

Thank you

[BrilloPad]

Thanks all so far, just to clarify few things

The import/ customs are all OK and so is free shipping. It is a genuine company expense. The goods are more cheaper when bought from outside the EU rather than from UK based company.


Get the cheapest to your company between cost in UK(less VAT as you can reclaim) and overseas cost.

True so if UK cost - VAT < non EU cost then UK purchase wins, correct ?

Correct.

HTH

[konsultant]

Thanks all so far, just to clarify few things

The import/ customs are all OK and so is free shipping. It is a genuine company expense. The goods are more cheaper when bought from outside the EU rather than from UK based company.


Get the cheapest to your company between cost in UK(less VAT as you can reclaim) and overseas cost.

True so if UK cost - VAT < non EU cost then UK purchase wins, correct ?

[WordIsBond]

If you can prove you spent the money, and it was for business expenses, you could buy the stuff from a company on Mars, if one existed. Not sure what shipping costs would be, though.

You obviously can't reclaim VAT on it if you haven't paid VAT on it. But depending on what it is, you might actually end up paying import duties and VAT on it when they ship it into the country.

[BrilloPad]

Get the cheapest to your company between cost in UK(less VAT as you can reclaim) and overseas cost.

Either is fine as a company expense.

Kind Regards
Your Accountant

[konsultant]

Hi,

Quick question please -

If I buy something for my company from another company that is based outside of EU (so no VAT), can I claim it as a company expense? Does the purchase has to be in UK for me to claim as a business expense ?

I presume this also means I cant offset it against VAT payments. Would it then be sensible to buy from the UK?

I am on standard VAT.

Thanks