Hello AskAboutMoney!
Can you help me with this?
I run a small ROI regged business, a limited company, and we've always been registered and completed VAT returns.
I buy a lot of stuff from a large non EU business. A few years ago, they opened a depot in Ulster. They have no presence in the Republic.
I noticed they began charging VAT.
My understanding of the correct accounting for the VAT is: they should not charge us VAT as we have a VAT number, and they are based in the EU with a VAT number, in a different jurisdiction to us.
I talked with the rep from their company, and they now have a system so that we don't get charged the VAT.
But - what happens to the VAT that they did charge over the last while?
My understanding of the correct treatment is:
Rather then us claiming the VAT back of the ROI Irish tax authorities, that the non EU business company should refund the VAT, and then they in turn should claim a credit back of the NI Tax authority, as they would have overpaid.
Simple question to you financial whizzes out there: is this correct?
Can you help me with this?
I run a small ROI regged business, a limited company, and we've always been registered and completed VAT returns.
I buy a lot of stuff from a large non EU business. A few years ago, they opened a depot in Ulster. They have no presence in the Republic.
I noticed they began charging VAT.
My understanding of the correct accounting for the VAT is: they should not charge us VAT as we have a VAT number, and they are based in the EU with a VAT number, in a different jurisdiction to us.
I talked with the rep from their company, and they now have a system so that we don't get charged the VAT.
But - what happens to the VAT that they did charge over the last while?
My understanding of the correct treatment is:
Rather then us claiming the VAT back of the ROI Irish tax authorities, that the non EU business company should refund the VAT, and then they in turn should claim a credit back of the NI Tax authority, as they would have overpaid.
Simple question to you financial whizzes out there: is this correct?
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