Selling to UK

timnolan

Sorry guys if this is in the wrong place!

Just wanted to know that if I've got a product that I want to sell to UK businesses do I invoice in euro or sterling? I sell to a couple of businesses in NI and I invoice in euro and receive payment in euro but was thinking maybe UK companies wouldn't have the ability to do that or would want...I'm VAT registered also.

Any help would be great.

Graham

It's entirely up to you to agree with the client, there's no hard and fast rules. What currency did you use to quote/price?

Peterdalkey

In general, if you want to grow your trade in the UK, you should operate in their currency for your dealings in that market. To do this effectively, you will need a Stg£ bank account, Ulster and BofI can easily facilitate this for you. This will make it easier and cheaper for your customers to make payments.

Graham

If you're trading in another currency but most/all of your costs are in Euro, I'd be looking to increase margins slightly to cover currency conversion costs and exchange rate fluctuations. You may also want to consider how long any quotes/estimates are valid for.

ssbob

From a business point of view(ie. growing your business abroad) you should invoice in STG but from a purely accounting point of view, there is less risk involved if you invoice in Euro due to exchange rate fluctuations, however if you have associated costs in STG then this can offset against the receipts.

timnolan

Thanks for your help guys. V. informative. I definitely want to invoice in STG just wasn't sure whether it was 'legit' to do so if you're an Irish business dealing in euro but it seems it is.