1 March 2021| CATEGORIES: Covid measures, VAT| TAGS: Covid measures, VAT
The UK government’s VAT deferral new payment scheme for settling VAT payments deferred between 20 March and 30 June 2020 due to COVID-19 is now open for businesses to voluntarily opt-in.
24 February 2021| CATEGORIES: building and construction services, domestic reverse charge, VAT| TAGS: domestic reverse charge, new VAT rules
In a bid to tackle fraud, the VAT domestic reverse charge for construction services is being introduced in March 2021. This will impose a significant administrative burden on businesses affected by the change.
11 February 2021| CATEGORIES: Uncategorised| TAGS:
Following the UK’s exit from the EU, new VAT rules apply to goods entering the UK in consignments valued at up to £135. The changes include: the abolition of low value consignment relief, which currently exempts consignments of goods up to £15 from import VAT; a new requirement for overseas sellers to charge UK VAT …
Continue reading “New UK VAT rules for imports in consignments up to £135”
15 November 2020| CATEGORIES: Covid measures, VAT| TAGS: Covid measures, VAT
HMRC has updated its guidance explaining how to settle VAT payments deferred between 20 March and 30 June 2020 due to COVID-19.
3 October 2020| CATEGORIES: e-Commerce, VAT| TAGS: e-commerce, EU, July 2021, VAT
The European Commission has published Explanatory Notes on the new EU VAT rules for e-commerce which come into effect on 1 July 2021. We look at what businesses need to do to prepare for the changes.
25 September 2020| CATEGORIES: Covid measures, VAT rates| TAGS: Covid measures, VAT rate cut
Following a resurgence in the number of COVID-19 cases in the UK, Rishi Sunak yesterday announced further VAT measures to support the economy in his Winter Economy Plan statement.
28 July 2020| CATEGORIES: Brexit, postponed import vat accounting| TAGS: Brexit, import VAT, PVA
New postponed import VAT accounting rules for imports into the UK from both EU and non-EU countries come into effect on 1 January 2021. This will generate a cash flow benefit for UK VAT registered businesses that import. Find out more about how to benefit from this change.
23 July 2020| CATEGORIES: Brexit| TAGS: Brexit, e-commerce, new VAT rules
New VAT rules will apply to sales of goods by overseas businesses to GB customers after the Brexit transition period ends. Find out more about the new UK VAT registration obligation.
22 July 2020| CATEGORIES: Making Tax Digital, VAT| TAGS: Making Tax Digital, MTD
The government has published a future roadmap for the extension of Making Tax Digital, impacting businesses below the VAT registration threshold.
17 July 2020| CATEGORIES: Brexit| TAGS: Brexit, VAT
The UK government has launched a new campaign to help businesses and individuals prepare for the end of the Brexit transition period.
Find out more about the actions businesses and individuals need to take to be ready for the UK’s new relationship with the EU from 1 January 2021.
