Over the last few days, reports have emerged of leaked documents which suggest that HMRC is to introduce a requirement for online marketplaces to account for VAT on cross border sales of goods to UK consumers. This change, if enacted, is a significant extension to the current UK rules which provide that in some circumstances the online marketplace could have joint and several liability for VAT due on sales. A report in the Financial Times states that this will come into effect on 1 January 2021. There has so far been no official confirmation from HMRC on this point.
Source: rsmuk.com
Latest Posts in "United Kingdom"
- Upper Tribunal Rules Cosmetic Treatments by Medical Professionals Can Qualify for VAT Exemption
- High Court Rules Interest Payable on VAT in Contract Dispute Settlement
- FTT Grants Late VAT Appeal Despite Rejected Review Request Arguments
- Property TOGCs Under the Microscope: Navigating VAT Conditions and HMRC Expectations
- Fintua Sponsors Indirect Taxes Annual Conference 2025 in London (Nov 12)
