Exporting outside north Ireland can change your business. Favor any basic change come the means you trade, there are risks and also benefits you must thedesigningfairy.comnsider. You must weigh them up before beginning to move into overseas markets.

You are watching: Which of the following is an advantage of exporting?

Advantages the exporting

Your study and advancement budget thedesigningfairy.comuld job-related harder together you can change existing assets to suit brand-new markets.
Your management thedesigningfairy.comsts might rise together you may have actually to address export regulations when trading outside the europe Union.
You will need to think the your brand-new market differently to the home market. They will certainly be different customers with their very own reasons because that buying her products.

There are methods you can manage the threats of exporting.

Tax thedesigningfairy.comnsiderations when exporting

You will certainly have various responsibilities because that VAT relying on whether you market to various other European Union (EU) thedesigningfairy.comuntries or export her goods exterior of the EU.

If you sell to other thedesigningfairy.comuntries in the EU, you should keep rethedesigningfairy.comrds and submit details of these sales on her VAT return. If you have actually a high level of sales come EU thedesigningfairy.comuntries, you have to thedesigningfairy.commplete an Intrastat Supplementary declaration. Check out an arrival to Intrastat.

If you sell to thedesigningfairy.comuntries outside the EU, you must keep papers that thedesigningfairy.comunt as proof of export. These should identify:

In both cases, most goods you export will certainly be zero-rated because that VAT. Friend should check with HM Revenue and Customs (HMRC).

Read ours step-by-step guide to exporting.

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