Foreign companies in the UK, are expected to finalize statistical reports, in addition to VAT returns, “Intrastat”, on the transfer of good over the national border. This may be the transfer of goods within the same company or to another company. HMRC website is the agency liable for the execution of Intrastat reporting guidelines in the UK.  When do UK Intrastat reports have to be completed?  If goods are transferred across the national border of the UK, to or from other countries within the EU by local or foreign companies, there may be a need to complete monthly Intrastat reporting. …

What can be deducted from the UK VAT?  For the start of sales of output VAT in the UK return, businesses can balance this by a similar purchase VAT or input. A couple of exceptions are present, and they include;  Vehicles not utilized solely for business intentions  Goods and services for personal use Goods and services have gotten before registration  Entertainment costs(except those for foreign clients)  For the time, surplus input VAT is given in the VAT return.  HMRC usually makes payment within 30 days of submission of a return, and this depends if there is an ongoing investigation.  Time…