13 September 2023| CATEGORIES: Brexit, GB to NI goods, Not at risk| TAGS: Brexit, Customs, Northern Ireland, Not at risk
HMRC have issued a reminder to businesses selling goods from Great Britain into Northern Ireland that the UK Internal Market Scheme (UKIMS) will replace the UK Trader Scheme (UKTS) from 30 September 2023. The UK Internal Market Scheme will continue to enable registered traders to move goods in line with existing ‘not at risk’ arrangements.
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.
11 August 2023| CATEGORIES: input tax recovery, sale of shares, VAT case| TAGS: Holding company, input tax, sale of shares, VAT refund
The Upper Tribunal (UT) has released its judgment in the Hotel La Tour Limited case. The case concerned the recovery of VAT on advisers’ costs relating to the sale of shares in a subsidiary company.
The UT rejected HMRC’s appeal against the previous decision of the First-tier Tribunal (FTT) which had found that the VAT on the advisers’ costs could be recovered as there was a link to future taxable supplies.
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.
30 June 2023| CATEGORIES: HMRC online services, time-to-pay, VAT debt| TAGS: VAT News
VAT-registered businesses that owe less than £20,000 of VAT can now set up a time-to-pay plan online. Certain businesses are not eligible to set up a VAT payment plan online. This includes businesses that use the VAT cash accounting or annual accounting schemes, and businesses that make VAT payments on account.
13 June 2023| CATEGORIES: digital newspapers, HMRC, Supreme Court, VAT rates| TAGS: HMRC, VAT
HMRC have published RCB 6 (2023) which provides an update on the VAT treatment of digital publications following the Supreme Court judgment in the News Corp UK & Ireland Ltd case. HMRC is writing to organisations that submitted claims for overpaid VAT based on the earlier Upper Tribunal decision to establish whether they intended to proceed with their appeals given the Supreme Court decision.
24 May 2023| CATEGORIES: e-Commerce, VAT, VAT registration| TAGS: digital services, e-commerce, ESS, GST, VAT
The trend for businesses to provide services digitally or online has accelerated significantly in recent years, particularly following the COVID pandemic. The Value Added Tax (VAT) and Goods and Sales Tax (GST) compliance obligations of businesses providing digital or electronically supplied services (ESS) are increasing. Tax authorities increasingly require overseas businesses to register for and charge local VAT/GST on their B2C supplies of ESS.
3 May 2023| CATEGORIES: Budget, VAT exemption| TAGS: Exemption, Spring Budget 2023, VAT change
A change in the VAT treatment of medical services carried out by non-registered staff who are directly supervised by pharmacists was announced in the Spring Budget 2023. From 1 May 2023 these services will be VAT exempt in line with other registered health professionals providing medical services to the public.
28 April 2023| CATEGORIES: Exports, Uncategorised, VAT, zero rate| TAGS: Exports, HMRC, New guidance, zero rate
HMRC have recently updated guidance in Notice 703 to clarify what is considered to be satisfactory evidence to zero rate exports. Businesses that export goods should review the guidance to ensure their record keeping meets these standards.
25 April 2023| CATEGORIES: VAT-free shopping| TAGS: tourism, VAT-free
Businesses are once again lobbying the government to re-introduce tax-free shopping for tourists. 90 business leaders have signed a letter to the Chancellor Jeremy Hunt warning of the effects the withdrawal of the scheme in 2021 is having on the UK economy.
