Selling USB Sticks to Pupils

[Disease]

Does anyone know if you have to charge VAT on USB sticks if you buy thm in then sell them on to pupils at a slight profit? I would have thought we would have to price them with VAT.

 

Thanks

[plexer]

If they are used 100% for their studies I think can sell them ex vat otherwise you must include vat.

 

Probably safest to include it.

 

Ben

[familiarrealms]

I would agree, including it is the safest thing to do.

[Ex-MGSTech]

We buy 4-8gb stainless ones for about £4 each and sell them to students VAT free for 4.50, I believe you can add a small administrative charge.

Staff however have to pay VAT

 

PM me if you want our supplier details

 

Steve

 

Edited October 12, 2012 by Ex-MGSTech

[plexer]

We ust bought a load of 8GB kingston ones from Dan @ Misco for £3.15 each.

 

Ben

[Sylv3r]

I was led to believe, that as an academy you couldn't sell on anything for a profit to students for example such things as memory pens - don't quote me though!

[Arthur]

I would have thought we would have to price them with VAT.

FWIW, I was told by our bursar that students and staff have to pay VAT on items purchased by the school, otherwise it is classed as tax avoision.

[CyberNerd]

We checked this with our LA accountants: You DO need to charge VAT on all computer products including memory sticks. For some reason musical instruments get an exemption, I have no idea why. VAT fraud is a serious offence, if you are selling things without VAT I would strongly urge you to get legal advice.

[sjatkn]

As others say, take advice, if your school is big enough then the bursar / finance office should be able to help. I would also argue that they are the ones who should be seeking advice from the LEA or accountants, depending on if you are an academy or not. It is their area of expertise not yours.

 

Before we were an academy we sold them without VAT and now we must include VAT. I seems that it comes down to your VAT registration status, but I don't pretend to know much about that.

Edited October 12, 2012 by sjatkn