Commentary

V7.256 Imports and acquisitions—planning points to consider

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.256 Imports and acquisitions—planning points to consider

Part V7 Tax planning | Commentary

V7.256 Imports and acquisitions—planning points to consider

The following planning points should be given consideration.

  1.  

    •     Different VAT rules apply depending on whether goods being acquired from overseas are imports (ie from a non-EU country) or acquisitions (ie from another EU country). Advisers should ensure that relevant clients have procedures in place to deal with the two different situations.

  2.  

    •     Generally no VAT is due on imported goods if the item in question would be zero-rated if supplied in the UK. There are, however, exceptions to this (such as the imported of building materials used for zero-rated construction work); see

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