- Home
- Forum
- Funding & Finance
- Hi,I’m looking for some advice regarding collecting VAT (tax).As a result of Brexit – we (an NZ product manufacturing and retail business) will now be required to collect VAT for our UK customers. Despite wading through many online documents regarding this – and contacting NZTE – we are still left with many questions. (Eg: Do we need a UK bank account? How streamlined is the actual process of paying VAT – does it integrate in with Xero software etc? What are the other fiscal record-keeping obligations etc?)Most website say: “Refer to a Tax expert”.We are wondering:• Are there any businesses out there that have been through this process that we could perhaps liaise with regarding this? OR;• Does anyone know of any Tax Experts whom might be able to efficiently/effectively provide this information?Thanks!Terry
- Reply To: Hi,I’m looking for some advice regarding collecting VAT (tax).As a result of Brexit – we (an NZ product manufacturing and retail business) will now be required to collect VAT for our UK customers. Despite wading through many online documents regarding this – and contacting NZTE – we are still left with many questions. (Eg: Do we need a UK bank account? How streamlined is the actual process of paying VAT – does it integrate in with Xero software etc? What are the other fiscal record-keeping obligations etc?)Most website say: “Refer to a Tax expert”.We are wondering:• Are there any businesses out there that have been through this process that we could perhaps liaise with regarding this? OR;• Does anyone know of any Tax Experts whom might be able to efficiently/effectively provide this information?Thanks!Terry
-
TerryS
Business Owner
@terrys
Reply submitted 26/01/21 @ 03:47pm
::@morganhardy
Hi Morgan,Thanks for your note here. This clears up some confusion – much appreciated!
Regards,
Terry -