Hi all ,
I really need some advice on the VAT issues on exported goods to non-EU countries.
This is the first year of my business, I am based in the UK. I purchase luxury designer fashion items from UK and other EU countries and sell them to private customers in Asia.
As I export 100% outside the UK, I would like to know:
1. if I am entitled to reclaim input VAT or acquisition tax for the goods that I purchase?
2. For some goods that are purchased from online retailers, am I still able to reclaim VAT ?
3. I register VAT voluntarily in order to reclaim VAT but my turnover is below threshold, is it possible HMRC at some point de-register me?
I appreciate all helpful advice.
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