30 November 2017
As announced in the October 2017 Autumn budget, from April 2018 legislation will be introduced that will extend the scope of the existing joint and several liability rules. This is to be able to hold online marketplaces (such as eBay, Amazon, Buy.com, Sears.com, etc.) jointly and severally liable for:
- Any future VAT that a UK business selling goods via the online marketplace fails to account for, once they have been notified by HMRC
- Any VAT that an overseas business selling goods via the online marketplace fails to account for where that online market place knew, or should have known, that the business should be VAT registered in the UK.
The UK government also announced that it would consider the introduction of a split payment system for e-commerce purchases, which would require the VAT element of any purchase to be paid directly to the UK tax authorities.
LATEST NEWS
E-invoicing hub
Navigating complexity and preparing for the digitalisation of VAT and the future of tax Following compromises and modifications to the original proposal, the...
SEE MORE
LATEST NEWS
EU finance ministers agree to introduce new customs...
In November, the Economic and Financial Affairs Council (ECOFIN) agreed to introduce a customs charge on low-value parcels valued below €150. The charge...
SEE MORE
LATEST NEWS
UPDATE: Swiss government confirms likely delay for the...
The Swiss tax authorities have confirmed that the increase in the standard VAT rate from 8.1% to 8.8% will now be postponed until 2028. This VAT rate increase...
SEE MORE