Guide to VAT registration, rates, schemes, compliance, and post-Brexit rules. Explore thresholds, recovery options, and filing requirements for UK and non-UK businesses.
Flat Rate Scheme (FRS) businesses: Some VAT codes may post differently based on your industry. What is VAT? VAT – which stands for Value Added Tax – is a tax placed on almost all goods and services sold in the UK and EU. Whether it’s a business-to-business sale or direct consumer...
Brexit – the effect for UK and EU sellers The UK left the EU VAT regime on 31 December 2020. This means UK sellers are now non-EU sellers at the same time as the introduction of the July 2021 ecommerce reforms. UK resident sellers will have to register in one of the EU states to...
VAT – Exempt Supplies are : Certain types of financial services like Life Insurance (not Medical Insurance), interest on loans; Residential properties; Bare land; and Local passenger transport Interest, Royalties, Dividends Although an advantage for a VAT Exempt Business (one active in selling exem...
Preparing Your Business for Brexit United Kingdom’s government announced that the UK will be leaving the EU on October 31, 2019 “whatever the circumstances”. If this really happens there will be immediate changes to the way businesses trade with the UK. Here’s how Brexit may impact your...
On 1 January 2015, new EU VAT rules came into effect changing the place of supply in respect of all supplies of telecommunications, broadcasting and e-services to consumers from the place where the supplier is located to the place where the consumer resides.DOI...