13 August 2026| CATEGORIES: Capital Goods Scheme, New legislation, VAT| TAGS: Capital Goods Scheme, partial exemption, property VAT
The UK Government has introduced significant changes to the VAT Capital Goods Scheme (CGS), with effect from 29 July 2026. Computers have been removed from the CGS entirely; and the expenditure threshold for land, buildings and civil engineering works has increased from £250,000 to £600,000, excluding VAT. The changes are intended to simplify the VAT rules and reduce the administrative burden associated with monitoring and adjusting input tax recovery on capital assets over a number of years.
18 August 2023| CATEGORIES: e-Commerce, GST, Jersey, New legislation| TAGS: e-commerce, GST, import, Jersey
With effect from 1 July 2023, Jersey has introduced Goods and Services Tax (GST) on sales of e-commerce goods made to consumers in Jersey by non-resident businesses. There is a registration threshold of £300,000. When purchasing goods from overseas retailers who become registered for GST, consumers will pay 5% GST to the supplier (vendor) at the point of sale.
9 August 2023| CATEGORIES: Electronic documents, International trade, New legislation| TAGS: Containers, digitalisation, International trade
The Electronic Trade Documents Act 2023 received Royal Assent on 20 July 2023, and will come into force on 20 September 2023. The Act applies to trade documents such as bills of exchange, bills of lading, and ships’ delivery orders, and amends the law so that electronic trade documents are granted the same legal status as physical trade documents, which was not previously the case.
