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No deal Brexit – impact on VAT

by | Mar 4, 2019 | ACCA, business issues, VAT

HMRC sends letter outlining the impact of a no deal Brexit on VAT. You will have noticed that HMRC continues to urge VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit. It has sent a letter to 145,000 VAT-registered...

HMRC Open up the MTD for VAT pilot to all customers

by | Feb 13, 2019 | ACCA, VAT

The MTD for VAT pilot is now open to all. The MTD for VAT pilot is now open to all who will be mandated to use the MTD service from April. HMRC has stated that ‘The pilot is progressing well – over 3,500 businesses have already joined and we have seen a dramatic...

VAT on digital services

by | Feb 6, 2019 | ACCA, VAT

HMRC issues updated guidance on VAT on digital services. HMRC has updated its guidance on VAT place of supply rules for business that sell digital services to private consumers in the EU. The changes apply from 1 January. For businesses established in the UK the rules...

New VAT MOSS exemption from 1 January 2019

by | Dec 12, 2018 | VAT

MOSS – Mini One Stop Shop – is an EU vat scheme for businesses selling Digital Services to EU resident consumers.  Digital services include: Music or videos E books Software or games Advertising Currently there is no threshold, so VAT is due on such sales...

VAT on vouchers

by | Dec 12, 2018 | ACCA, VAT

Are you aware of how the law on VAT and vouchers is changing? From 1 January 2019, the UK law on VAT and vouchers is changing due to the deadline enforced by the EU’s Vouchers Directive. The change will affect businesses such as retailers and distributors who issue...