30 March 2017
The UK government has announced that it will hold a public consultation relating to the introduction of an anti-VAT fraud spilt payment system.
This measure will apply to e-commerce sales made by non-established suppliers to consumers in the UK. If brought in, this will mean that the UK consumer purchasing the goods will be required to pay the VAT element of their purchase directly to HMRC. The net amount will then be paid to the supplier in the normal way.
It is hoped that this measure will help to eliminate the growing problem of VAT fraud by non-established online sellers who are charging the VAT on these sales, but are not remitting this to HMRC.
In 2016, the UK introduced a range of other measures to try to deal with the problem of non-EU sellers failing to VAT register and charge VAT. Read our article which details the changes in full here.
LATEST NEWS
Separate EORI number for Northern Ireland required
HMRC have recently confirmed that businesses who import and export goods from Northern Ireland (NI) will need a special Economic Operator Identification Number...
SEE MORE
LATEST NEWS
Fiscal representation not required in France for UK...
The French tax authorities have confirmed that UK businesses will not have a requirement to engage a fiscal representative when the Brexit transition period...
SEE MORE
LATEST NEWS
UK Intrastat still required after Brexit
The UK tax authorities have confirmed that English, Welsh and Scottish businesses importing goods into the UK from the EU will still be required to prepare and...
SEE MORE