Short note on fiscal representative in UK
The latest news about VAT from UK is that the VAT registration threshold for businesses resident in UK has been increased. This threshold does not take into account nonresident businesses in whose case a nil VAT registration threshold is applied and these nonresident businesses which are expected to register for VAT from their first sale in UK are not expected to conform with this new threshold. The point is that a fiscal representative in UK will keep you updated of all VAT related news especially change in provisions that apply to your company and you get tailored VAT advice when you are planning to add to your business by supplying and adding machinery, opening a warehouse, organizing an event, importing goods and other VAT related activities. The above reasons though enough are still just an introduction to the list of many more reasons why you should go for fiscal representative in UK, but they look in Google for for fiscal representative UK. Let us read further for more reasons.
Starting with the first step which is VAT registration. The fiscal representative will help you become aware of the legal requirements of VAT registration in every country where you trade
Second reason why you must go for fiscal representation in UK is that the representatives are multi-lingual and can converse with tax authorities and clients in their own language. This is the ideal solution in both cases whether it is a single conference in a foreign country or a series of VAT registrations. This representative will be jointly liable for all VAT related responsibilities of their foreign client.
Now let us look at VAT charged for events. Almost all events such as exhibitions, seminars, training courses and conferences are taxable in the country which is the venue. The event organizer needs to be VAT registered and the income from the events is subject to VAT and organizer can deduct VAT on related costs. There are important things to note here which only a fiscal representative could help you with for example before you have got a VAT registration one ought not to incur costs or issue sales invoices otherwise penalty will have to be paid for late registration and reclaim on expenses will not be possible. Also, a fiscal representative would know which countries allow exemption from registration for particular events.
Another thing you can achieve with the help of a fiscal representative is online trading. When you are thinking of establishing yourself in the global e commerce market then you have to understand online VAT. For example if you have to make distance sales in EU or non EU countries and the goods sold are taxable then there is a threshold of sales that can be made before local VAT registration becomes essential . It saves you a lot of money when you can just appoint a fiscal representative in place of setting up an office in each country. In some countries a fiscal representative is a compulsory legal requirement.
Last thing I would like to draw your attention towards is how to get refunds. Certain countries allow a refund without the need of a VAT registration in case your business incurs VAT while trading overseas. This refund takes place on a no refund no fee basis.
A fiscal representative would thus be important for your business at every stage.