HMRC have recently updated VAT notice 726, a regulation that strongly advises traders to carry out due diligence on their supply charge.
Meaning, in short, you could be held liable for unpaid VAT of another VAT registered business when buy/sell specified goods.
Specified goods include:

  •  equipment made or adapted for use as a telephone
  •  equipment made or adapted for use in connection with telecommunications such as a sim
  •  equipment made or adapted for use as a computer
  •  other equipment for use in connection with computers and computer systems
  •  electronic equipment made for individuals such as satnavs and game consoles.

If you require any assistance please do not hesitate to contact us on 01295 477 250 alternatively you can email hello@progresswithassureuk.com.
 

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