Reclaiming VAT

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matty said:
3) If you honestly believe that you are buying goods with VAT being added when buying from hong kong, then you shouldn't be allowed near a computer, or to have sharp implements, or go near high places.
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:LOL::clap:(y)

Perhaps it would be fair to add that if you are buying from the UK high street and you believe that they are raking in vast profits of the HK price differential and then a bit more, the same sort of thing applies about being let near computers and sharp implements.
 
gramps said:
I buy on occasions goods/services from people/companies who are not VAT registered, their invoices do not show a VAT number for obvious reasons ... I do not question their VAT status, should I now start to demand evidence of VAT compliance?
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But if you were VAT registered and you bought goods for your business, then you would need a VAT receipt to show so that you could recover the duty paid.
 
tiler65 said:
But if you were VAT registered and you bought goods for your business, then you would need a VAT receipt to show so that you could recover the duty paid.
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You cannot reclaim VAT from a supplier who is not VAT registered.
 
matty said:
1) Panamoz did have an advertising account, but no longer do. we left the forum open but it will vanish on the last day of the month
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That's interesting, are Panamoz aware of this?

What will happen to the threads, particularly those which are "live" and in discussion? I'd like to keep people updated with my experience of Panamoz, so will my thread be moved somewhere else?
 
domino1999 said:
That's interesting, are Panamoz aware of this?

What will happen to the threads, particularly those which are "live" and in discussion? I'd like to keep people updated with my experience of Panamoz, so will my thread be moved somewhere else?
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Tuff titty I would say, Panamoz are still reachable via their website and email address.....don't forget to ask for Tina.
 
domino1999 said:
That's interesting, are Panamoz aware of this?

What will happen to the threads, particularly those which are "live" and in discussion? I'd like to keep people updated with my experience of Panamoz, so will my thread be moved somewhere else?
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threads will be moved yes, probably in photoshopping. panamoz were made aware already. We were told that they had a UK warehouse that they dispatched from(which isnt the case I dont think) but they do appear to use a UK address to bill from.
 
tiler65 said:
Quite correct but if they were to say VAT included, in the goods sold, like Panamoz have.......
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Panamoz did not tell me that VAT was included, their pro-forma invoice did not include VAT.
 
and for those who think that TP is a Tax Exemption haven, we have told panamoz to come back when they have a VAT number.

the next person who complains about DR, Onestop or any other Hong kong outfit gets banned. :D
 
tiler65 said:
Tuff titty I would say, Panamoz are still reachable via their website and email address.....don't forget to ask for Tina.
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Yes, I know they're still reachable, that wasn't my question :nono:

I'm saying that it would be nice to keep some of these threads on the forum, to help others who might be considering buying from Panamoz, that's all. It's no different to other threads in the shopping sub-forum.

EDIT: Thanks Matty, just seen your reply above.
 
gramps said:
Panamoz did not tell me that VAT was included, their pro-forma invoice did not include VAT.
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3. Will I have to pay Import taxes?

No, all import taxes/duties/VAT are covered by us. We are responsible for all additional tax charges. The price you see when you place an order with us, is all you have to pay. The price displayed for items sold by Panamoz Electronics are inclusive. You will be able to see your final price before you confirm your order, when you have completed your order information (including your delivery address).

This assumes that they are collecting VAT.
 
You assume that ... my factual information from them, i.e. the invoice does not state VAT etc as being under consideration.
In hindsight, it appears that there are issues which are unresolved and that would stop me making further purchases from them until resolved, however I suspect with matty's announcement it will all largely now be academic.
 
gramps said:
however I suspect with matty's announcement it will all largely now be academic.
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Not really, it doesn't stop you or anyone using Panamoz...just not through this forum.....
 
tiler65 said:
Not really, it doesn't stop you or anyone using Panamoz...just not through this forum.....
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Agree it doesn't stop anyone but it will surely make them give some advance thought that they may not otherwise have done, TP implied 'OK' being removed so to speak.
 
im not stopping anyone from using them, they are sending what people pay for etc
 
domino1999 said:
Yes, I know they're still reachable, that wasn't my question :nono:

I'm saying that it would be nice to keep some of these threads on the forum, to help others who might be considering buying from Panamoz, that's all. It's no different to other threads in the shopping sub-forum.

EDIT: Thanks Matty, just seen your reply above.
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The fact that TP has decided to dump them as sponsors/advertisers doesn't make you wonder whether it's such a good idea to keep promoting them then?
 
gramps said:
I have bought goods once from Panamoz, quite recently.
I received a (non-VAT) pro-forma invoice for the total value from Panamoz at 88-90 Hatton Garden, London. EC1N 8PG (from the invoice) and I paid into their bank at a UK branch of the HSBC.

If I bought from a UK company and paid for those goods into a UK bank, how do I become an importer, did the UK company not import the goods into the UK?

I buy on occasions goods/services from people/companies who are not VAT registered, their invoices do not show a VAT number for obvious reasons ... I do not question their VAT status, should I now start to demand evidence of VAT compliance?
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did you ask for a UK address for warranty purposes or did it just come to you with the UK address?

DemiLion said:
The fact that TP has decided to dump them as sponsors/advertisers doesn't make you wonder whether it's such a good idea to keep promoting them then?
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we didnt dump them because we dont think its a legit business. I cant go into detail but it was nothing to do with the service that they offer, or the products.
 
Flash In The Pan said:
Just wondering what the position is for VAT-registered customers, do you provide a VAT invoice so that the tax can be reclaimed?
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I asked a similar question about what paperwork came with their orders recently and received a PM from them telling me that they do not provide a VAT receipt. I replied asking if they could supply proof that duty/VAT had been paid but haven't had a reply... I drew my own conclusions from that and decided that I would not be dealing with them.

EDIT : I see I came to this thread a bit late...!
 
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DemiLion said:
The fact that TP has decided to dump them as sponsors/advertisers doesn't make you wonder whether it's such a good idea to keep promoting them then?
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I am not promoting Panamoz :nono:

I'm simply saying that these forums are here for open discussion, debate, help and knowledge-share, individual reviews etc. The shopping and suppliers sub-forum is an ideal place for a thread like this, rather than just deleting it along with the Panamoz sub-forum. There are people out there who just might find information in this thread useful...:shrug:
 
matty said:
did you ask for a UK address for warranty purposes or did it just come to you with the UK address?
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Just to add to this, I have my Panamoz invoice here in front of me and it's the same as gramps'. I didn't ask for this - it just appeard this way.

The invoice complies with all relevant statutory requirements for a UK business invoice in that it has the following information:

Invoice is stated at the top of the page.
Invoice Number
Date
Company Name (Panamoz Electronics)
Address Unit 36, 88-90 Hatton Garden, London, EC1N 8PG, United Kingdom
Invoice ValueThere is no VAT shown or inferred. This doesn't make it suspicious - it is perfectly correct for a company that isn't VAT registered.
Bank Payment Info HSBC Salford UK.

There are only two things which might seem unusual about this. The first is that there is no VAT shown and any reasonable person who has an inkling of the business turnover here would be suspicious of this. Also, the bank account name is shown as an individuals name (of Far Eastern origin).

These two issues aside, anyone with no idea about VAT would not have any reason to believe they were doing anything wrong in buying a product and expecting it to come from within the UK. As has been said before, unless you study the small print on the consignment itself (before ripping it open and discarding the packaging) you would not necessarily know that it came in under the radar as sample toy parts with negligible value associated to it.:|
 
B1ts said:
So you are saying ian kerso is trading illegally?
I suspect you may wish to clarify that point if so.......
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My understanding is that kerso/flash camera is an american registered company and therefore not able to register for VAT in the uk.

He's previously said that he'd love to be able to be VAT registered as it would get him loads more business, but he can't.

As far as the panamoz question goes we seem to be confusing paying VAT with being VAT registered. They arent charging you VAT (being an HK - ie Chinese- registered company they cant be UK registered in the same way as kerso can't), they are saying that if theres a vat liability on the import they will pay it not the customer.

Ergo if you are VAT registered grey imports may not be as good a deal as you can't reclaim VAT so an ex Vat purchase from a uk retailer may be nearly as cheap. However for those of us who arent VAT registered they still offer a good deal.

The dodgy thing that panamoz do (but Kerso doesnt to the best of my knowledge) is to misdescribe the packages being sent as 'toy parts' or similar in order to avoid charges on import.
 
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gramps said:
I have bought goods once from Panamoz, quite recently.
I received a (non-VAT) pro-forma invoice for the total value from Panamoz at 88-90 Hatton Garden, London. EC1N 8PG (from the invoice) and I paid into their bank at a UK branch of the HSBC.

If I bought from a UK company and paid for those goods into a UK bank, how do I become an importer, did the UK company not import the goods into the UK?
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If the goods came direct to you from HK then you are the importer, if they were shipped to the seller in the UK and they then shipped them out to you then they are.
 
thanks John, I wasnt sure if it was a UK address that was provided all the time but you have confirmed that.

i think anything that comes from hong kong will be slightly light on the description of goods, but as stated already, I think we all know that.
 
FourRingCircus said:
If anyone can't understand the 'VAT thing', then they plainly don't realise that for every £100 they spend over the counter in this country, the government takes £20 of it from the retailer (excluding most grocery items, kids clothes, and a few other things). .
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[pedant] That isnt quite correct - the ammount you spend over the counter has already had the Vat added, so the charge is 1/5 of the ex vat price.

i.e if you spend £120 inc vat the govt is taking £20 (1/5 of the £100 ex vat price). If you spend £100 inc vat over the counter the govt is taking £16.66.

(And in fact that is slightly over simplified too , because the retailer can reclaim the Vat they paid on the item, plus all the Vat they paid on anything else to do with their business in selling the item) [/pedant]
 
big soft moose said:
Ergo if you are VAT registered grey imports may not be as good a deal as you can't reclaim VAT so an ex Vat purchase from a uk retailer may be nearly as cheap.
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You are absolutely correct about a product being bought by a VAT registered customer in the UK being 'not such a good deal' because they claim the VAT back anyway. However, Panamoz was still a heck of a lot cheaper than the ex-VAT UK prices. Not as much of a saving to a business as the huge retail (inc VAT) saving was to Joe Public, but still a decent saving none the less.
 
big soft moose said:
If you spend £100 inc vat over the counter the govt is taking £16.66.
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Go back a couple of pages in the thread and you will see that I've already made amends for this error. But that was earlier this morning!!:LOL:
 
I used to be vat registered
now my customers who were vat registered always wanted to know the cost pre vat and were always quite happy to pay the bill including vat
Now my retail customers who were obviously not vat registered (Mr joe public) also wanted to know the cost pre vat but he was not willing to pay the vat
if the bill was £7. 23 including vat MR Joe was perfectly happy to pay when his biil was £5000 + vat he only wanted to pay the £5000
I am glad to be out of it worst job in the world is being an unpaid tax collector
 
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yeah my day job is with a large organisation which is Vat registered - this drives us up the wall as there are elements of expenditure budgets where we can claim 100% of the Vat, others where we can claim 67% and others where we can't claim anything - working out the irrecoverable VAT for a given project s thus a total ballache
 
big soft moose said:
yeah my day job is with a large organisation which is Vat registered - this drives us up the wall as there are elements of expenditure budgets where we can claim 100% of the Vat, others where we can claim 67% and others where we can't claim anything - working out the irrecoverable VAT for a given project s thus a total ballache
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and then when the vat man comes for an inspection 2 years later, he then tells you you can't claim that anymore as they have changed the rules and you now owe us 15k back lol
I think I am emigrating to run a business from honk kong roflol
 
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big soft moose said:
My understanding is that kerso/flash camera is an american registered company and therefore not able to register for VAT in the uk.

He's previously said that he'd love to be able to be VAT registered as it would get him loads more business, but he can't.


.
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Yes he can, as stated (and ignored, seemingly) ad nauseum, he can register as a Non-Established Taxable Person (NETP) that would give him a UK VAT number....
 
Rebel t3i said:
I think I am emigrating to run a business from honk kong roflol
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May I suggest you sell these then.....

car-jokes-old-car-horn.jpg
 
Flash In The Pan said:
Just wondering what the position is for VAT-registered customers, do you provide a VAT invoice so that the tax can be reclaimed?
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Your invoice should have the VAT number included on it for all your clients irrespective if they are VAT registered or not. AS for claiming back VAT for yourself it all depend if you opt for VAT flat rate or not.

for Photographers the flat rate is 11% see link (full flat rates for different businesses shown)


http://www.hmrc.gov.uk/vat/start/schemes/flat-rate.htm#1


So how it works is you still charge the customer the full 20% but only pay inland revenue photographer rate of 11% and you keep the difference. You can't then claiM the full 20% unless the item is priced over the amount allowed beforehand which I can't remember exactly.

Realspeed
 
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samIOW said:
So just to clarify it. Is any thread to do with Panamoz being deleted??
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I don't think so. This one hasn't and neither has my earlier one, just moved here instead. Best ask Matty.
 
domino1999 said:
I don't think so. This one hasn't and neither has my earlier one, just moved here instead. Best ask Matty.
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I thought it was being shut down at the end of the month, unless i misunderstood Matty, :) or just being moved here??
 
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