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www.francisclark.co.uk
Agenda
• Selling to overseas customers
• Holding goods overseas
• Agency issues
www.francisclark.co.uk
Sending goods to customers in other EC countries
Sales to VAT registered customers in other EC countries
• Obtain customer’s VAT number
• Check validity of VAT number
• Show VAT number on invoice including 2 digit country prefix
• The goods are sent to another EC member state
• Obtain and retain proof that the goods have been removed within time limits
• If the above conditions are met the sale is zero-rated known as dispatches
www.francisclark.co.uk
Sending goods to other customers inother EC countriesreporting requirements
• VAT Return – reporting box 6 and 8
• EC Sales Lists
• Intrastats (2013 threshold - £250,000)
www.francisclark.co.uk
EC Trade – other issuesTriangular transactions
• Goods move from A to C
• Invoicing A to B and B to C
• Simplification when all parties registered for VAT
www.francisclark.co.uk
Sales of goods to other EC countriesNon-VAT registered customersDistance Selling
• Sales to non-VAT registered customers
• Distance selling rules could require registration in other EC countries
• Apply where goods sent from UK to EC country
• Record distance sales to each Member State
• Threshold either €35,000 or €100,000 (or own currency equivalent)
www.francisclark.co.uk
Sending goods outside ECDirect exports
• Zero rated as exports as long as criteria met
• Goods sent outside EC
• Proof obtained that goods removed
• Goods removed within 3 months or 6 months where goods involved in processing or incorporation prior to export
• Invoice should make country of delivery clear
• Delivery terms
• Include in box 6 on VAT return
www.francisclark.co.uk
Goods sent outside ECIndirect exports
• Customer arranges collection of goods
• Zero rated as exports as long as criteria met (as for direct exports)
• Customer belongs overseas
• Recommend obtain deposit equivalent to VAT
• Include in box 6 on VAT return
www.francisclark.co.uk
Holding stock overseas
• VAT registration may be required for sales made in destination country
• Some countries may have special procedures
• UK issues
www.francisclark.co.uk
Agency Issues
South Devon Export Network12 February 2014
Export Events Diary
Steve Southcott MIExInternational Trade Adviser
UK Trade & Investment
Tel: 07880 [email protected]
A World Leading Supplier of Propellers and Sterngear
A Complete propeller and stern-gear manufacturer based in Newton Abbot
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The largest propeller and stern-gear manufacturer in Europe
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• Sales and engineering design department • Accounts and credit control department • Pattern-making and propeller mould making workshops • Bronze and steel foundry for castings • Various machine shops • Propeller Finishing shop • Fabricating and welding shop • Inspection & testing laboratory • Storage, Packing & despatch
department
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Our Facility Includes
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What We Do
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Vessels We Supply
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How we got here
Our History
1974 Started Teignbridge
1975 Persuaded to start a small bronze foundry
1976 Started to supply Marine Projects
1976 Started to supply
Birchwood Boats range
1977 Won large order from
Perkins Engines and
manufactured our
first propeller
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Engineering by Mistake
The first years
