help!

[teasel]

hi i am in the process of just setting up my business, i intend to import from spain the goods i wish to sell. although i dont think i will reach the tax threshold of 56,000 i have to voluntarily register for vat so that i may get a trade account with the company. i am not sure if this is good or bad?

[Ian McTernan CTA]

This depends on whether your end customers are VAT registered or not, as this will affect the cost they pay for the goods and hence whether you are good value or not.

You need to check to see whether import duties and VAT are payable on the goods you are planning to import.

Consult a VAT expert to ensure you set everything up correctly.

Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com