VAT on Commodities

[maxy]

Hi

I am involved in a small commodity trade, I may be paid a commission of £80,000 for brokering a deal between and buyer and seller of copper, the copper is bought and sold outside of the EU, will I have to register and pay for VAT if the deal proceeds as I am UK based.

Many Thanks

[Generix]

Hi

I am involved in a small commodity trade, I may be paid a commission of £80,000 for brokering a deal between and buyer and seller of copper, the copper is bought and sold outside of the EU, will I have to register and pay for VAT if the deal proceeds as I am UK based.

Many Thanks

What exactly are you doing to earn the commission?

I assume you truly earning commission and not taking title to the goods (even flash title) at any time?

[maxy]

Hi

I am not taking title, just simple commission for finding the buying, the seller will be paying the commission.

Many Thanks

[Generix]

Hi

I am not taking title, just simple commission for finding the buying, the seller will be paying the commission.

Many Thanks

If it is not a supply of goods then it is a supply of services. So you just follow the normal rules for services.

Do you know them or want me to post?