- The UK VAT system is similar to the EU system, preventing double or non-taxation issues
- EU is set to reform its VAT rules on January 1, 2025, affecting how livestream events are taxed
- Currently, livestream events are taxed based on the supplier’s location, but this will change to the customer’s location in the EU
- UK businesses will need to charge both UK VAT and EU VAT for livestreams to EU consumers, while EU businesses won’t charge VAT to UK consumers
- VAT rules for business-to-business providers remain unchanged, but UK suppliers must prove their customers are businesses
- UK businesses may need to restructure to avoid disadvantages due to unchanged UK VAT rules and new EU VAT rules
- Businesses involved in livestreaming should prepare for these changes to avoid double taxation issues
Source: rsmuk.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
