The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
There are special rules regarding the transfer of stock or own goods from one EU member state to another. The main rules regarding call off stock, consignment stock and movements of own goods are explained below.
Call off stock is the term used to describe goods held for an individual customer, usually at the customer's own premises, and title transfers when the customer removes the stock from the warehouse. In effect, the customer calls off the stock when the stock is removed from the warehouse. The supplier owns the stock held in the warehouse until the customer calls off the stock. If the goods move from one EU member state to another, special VAT rules apply to the transaction. These are outlined below.
In order to use the call off stock simplification measure the following conditions must be satisfied:
The call off stock is normally held at the customer's premises. However, it is possible for goods held at a supplier's premises to be treated as call off stock providing the goods stored are clearly identified as allocated to a specific customer and the customer is aware that the goods have been transferred into the warehouse.
If the conditions outlined above cannot be satisfied then the goods should be treated
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login