30 April 2018
The UK tax authorities have issued a further public consultation relating to the adoption of Split Payments for e-commerce transactions in the country.
If introduced it’s hoped that the mechanism will help to prevent online VAT fraud and would require the VAT-element of online sales to be paid directly to the UK tax authorities by the online sellers at the time of purchase.
Split Payments are already in use on certain transactions in Italy, Romania and Austria. Poland are also planning to introduce the mechanism from 1 July 2018.
Further detail on the public consultation can be found 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
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
LATEST NEWS
Ireland to introduce postponed accounting for import...
The Irish government have confirmed that a postponed accounting facility will be implemented for import VAT post-Brexit. This new mechanism will allow all...
SEE MORE