Hi all,
brand new here and I'm struggling.
We are a dental clinic and though we turn over a lot of money, we are exempt from VAT as we provide medical treatment to our customers. But, we buy our supplies from countries in the EU so we have a thresh-hold of purchases we can make before reverse vat applies (i.e the supplier either charges at the rate in their country - like Hungary is 27%) or they ditch the VAT and we pay it in the country i.E reverse charge.
Normally, you can offset input reverse charge against output but we cant because we are exempt so I'm trying to find another way around to save our costs going up 20%.
Can anyone help?
Louisa x
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