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VAT question on uk gallery selling to uk resident, by covertshadowops on Jun 15, 2021 12:45:10 GMT 1, quick question i would like to know the answer for please if possible....
a UK Gallery sells a painting to me (a UK resident)
the painting was painted by artist from japan and i guess they paid import charges (5% i believe for art)
they put their markup on it and sell it to me
they invoice me and add 20% VAT on the price... is this correct?
quick question i would like to know the answer for please if possible....
a UK Gallery sells a painting to me (a UK resident)
the painting was painted by artist from japan and i guess they paid import charges (5% i believe for art)
they put their markup on it and sell it to me
they invoice me and add 20% VAT on the price... is this correct?
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VAT question on uk gallery selling to uk resident, by Happy Shopper on Jun 15, 2021 12:48:14 GMT 1, quick question i would like to know the answer for please if possible.... a UK Gallery sells a painting to me (a UK resident) the painting was painted by artist from japan and i guess they paid import charges (5% i believe for art) they put their markup on it and sell it to me they invoice me and add 20% VAT on the price... is this correct?
Yep. I think so.
If they're registered for VAT in the UK, and they're selling to a UK resident, then they have to add the 20% VAT.
quick question i would like to know the answer for please if possible.... a UK Gallery sells a painting to me (a UK resident) the painting was painted by artist from japan and i guess they paid import charges (5% i believe for art) they put their markup on it and sell it to me they invoice me and add 20% VAT on the price... is this correct? Yep. I think so. If they're registered for VAT in the UK, and they're selling to a UK resident, then they have to add the 20% VAT. |
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leighdrive
New Member
Posts โข 464
Likes โข 208
August 2008
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VAT question on uk gallery selling to uk resident, by leighdrive on Jun 15, 2021 12:48:51 GMT 1, Yup.
I'd say so.
You purchased in the UK and need to pay appropriate VAT.
If you'd purchased outside of UK, you'd be paying 5% + whatever else tickles the fancy of customs.
Yup.
I'd say so.
You purchased in the UK and need to pay appropriate VAT.
If you'd purchased outside of UK, you'd be paying 5% + whatever else tickles the fancy of customs.
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VAT question on uk gallery selling to uk resident, by covertshadowops on Jun 15, 2021 12:56:36 GMT 1, thats what i thought at least?
surely i am paying VAT only on the 'markup' value because the 'other bit where they imported it at a value from the artist' has already paid (i assume)?
Like at auction where you pay the hammer price plus commission, but pay 20% VAT of the commission price because thats 'made' in the UK and therefore chargeable?
thats what i thought at least?
surely i am paying VAT only on the 'markup' value because the 'other bit where they imported it at a value from the artist' has already paid (i assume)?
Like at auction where you pay the hammer price plus commission, but pay 20% VAT of the commission price because thats 'made' in the UK and therefore chargeable?
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billybob1969
New Member
Posts โข 184
Likes โข 153
May 2020
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VAT question on uk gallery selling to uk resident, by billybob1969 on Jun 15, 2021 12:56:37 GMT 1, It really depends if it's a secondary sale they can charge under the margin scheme on profit, however I believe primary sales always attract 20% VAT.
It really depends if it's a secondary sale they can charge under the margin scheme on profit, however I believe primary sales always attract 20% VAT.
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Fะฏ
Full Member
Posts โข 8,248
Likes โข 9,236
May 2013
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VAT question on uk gallery selling to uk resident, by Fะฏ on Jun 15, 2021 13:09:48 GMT 1, quick question i would like to know the answer for please if possible.... a UK Gallery sells a painting to me (a UK resident) the painting was painted by artist from japan and i guess they paid import charges (5% i believe for art) they put their markup on it and sell it to me they invoice me and add 20% VAT on the price... is this correct?
Pretty normal for business. If another business buys it you can claim the VAT (it is usually a way to make it appear cheaper to the guy on the street though)
quick question i would like to know the answer for please if possible.... a UK Gallery sells a painting to me (a UK resident) the painting was painted by artist from japan and i guess they paid import charges (5% i believe for art) they put their markup on it and sell it to me they invoice me and add 20% VAT on the price... is this correct? The price you saw was likely + VAT. Nothing to do with import fees. Pretty normal for business. If another business buys it you can claim the VAT (it is usually a way to make it appear cheaper to the guy on the street though) |
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