Why am I charged VAT

on my Oarsome Grips?

Oarsome Potential Ltd is VAT registered, which means we must charge VAT on all supplies of goods and services that we make within the UK.

More detail:

VAT is charged on sales and other supplies If you are registered for VAT, you must charge VAT on all supplies of goods and services that you make within the UK, at the appropriate rate, unless they are specifically either exempt from VAT or outside the scope of UK VAT.

In addition to charging VAT on the goods and services that you supply to your customers, you must account for and pay VAT on:
• items sold to staff, such as canteen meals or via vending machines
• sales of business assets
• hiring or loaning of goods to someone else
• commission received from selling something on behalf of someone else
• certain business gifts
• goods that you or your staff take out of the business for personal use, whether on a temporary or permanent basis
• services supplied to the business but then used privately

VAT is also chargeable on:
• barter
• part-exchange
• gifts