Financing, tax rates, and accounting
Hello,
Within the coming months I will be needing to become UK VAT registered as per the UK VAT Threshold.
CURRENT STORE OPERATIONS
Currently my Shopify setting are set like this:
Product Pages - "Charge VAT on this Product" Unchecked
Taxes in settings - "All Prices and Shipping includes VAT" Checked
Tax Regions - None set up
Currently when I receive either an UK or international order both customers are paying the same amount regardless of their location as I am not currently collecting VAT.
FUTURE DESIRED STORE OPERATRION
When I move to being UK VAT registered I would like both my UK and international customers to contiue to pay the same sale price, except for that I will obviously be collecting VAT from the UK sales and not from the international ones.
For example, if I sell an item for £10 in the UK, I do not want to be offering that to international customers at £8.33 (£10 less VAT). I want them to pay the same £10.
HELP NEEDED
I am currently struggling to work out how I need to adjust my settings to make sure my desired state happens and would appreciate any support that can be offered on this matter.
Thanks,
MechMods UK
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