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Where Taxpayers and Advisers Meet

C79 and other stuff.

sniper1
Posts:1
Joined:Sun Sep 09, 2018 12:59 pm
C79 and other stuff.

Postby sniper1 » Sun Sep 09, 2018 1:27 pm

Hi,

I regular import (for our small family business) things from outside the EU.

1. When I get a fedex bill, it shows the VAT and customs duty. Can I reclaim back the VAT element on Customs Duty.
2. I have a VAT and EORI number. I was originally FRS and transferred over to full VAT with effect from 01/07/18.
I have stock which was purchased before I transferred over. When I sell this stock now, I am paying full VAT on the sale, whereas when it was purchased I was on a lower VAT rate. I have the C79's can I claim the VAT back for this, or is it a case of forget it. If I can back date is there a limit as to how far I can go back for old stock.
3. I have a Fedex problem, they messed up a invoice. The problem is almost resolved.
(Basically, they put 2 shipments on 1 bill. One shipment was for the business, the other wasn't.)
So they originally billed me in May which was incorrect, but the amount on my monthly VAT cert C79 WAS correct.
They re-issued the bill which was invoice dated 09/08 and it was paid in full on 15/08. As the amount is on the May C79, can I reclaim this, even though it was before my transfer to full VAT.

Regards

les35
Posts:635
Joined:Wed Aug 06, 2008 3:09 pm

Re: C79 and other stuff.

Postby les35 » Mon Sep 10, 2018 8:42 am

How do I adjust for stock purchased whilst using the FRS, but on hand when I leave the scheme?
See para 12.8 here: https://www.gov.uk/government/publications/vat-notice-733-flat-rate-scheme-for-small-businesses/vat-notice-733-flat-rate-scheme-for-small-businesses#section12


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