VAT—buying goods in the EU
Produced in partnership with John Fuszard of Sagars Accountants Ltd
VAT—buying goods in the EU

The following Tax practice note produced in partnership with John Fuszard of Sagars Accountants Ltd provides comprehensive and up to date legal information covering:

  • VAT—buying goods in the EU
  • Acquisition tax
  • Transfers of own goods
  • Transfers that are not taxable supplies
  • Distance Selling
  • Calculation of acquisition tax
  • Place of acquisition
  • Acquisition tax example
  • Belgian VAT treatment
  • UK VAT treatment
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for Tax?

This Practice Note is about the VAT treatment of businesses that are based, and VAT registered, in the UK, and which buy goods from other countries in the EU.

When a supply of goods begins in one Member State and the goods arrive in another Member State, there will have been an EU cross-border movement of goods. This is known as a dispatch by the supplier and an acquisition by the customer. The supply is not subject to VAT in the supplier’s Member State but is subject to VAT at the rate applicable to the goods in the Member State of arrival.

As a result of these rules, when a UK business obtains goods from an EU supplier, the UK business will need to account for VAT on the sterling value of the goods when they arrive in the UK. This VAT is

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