UK / Potential TOMS Changes in Event of No-deal Brexit

By |July 2nd, 2019|

Recently issued regulations should ensure that in the event of the UK leaving the EU in a no-deal Brexit scenario, changes can be made to UK legislation to prevent double taxation when supplies of travel services are made. The Tour Operators Margin Scheme (TOMS) is a mandatory EU wide-simplified VAT accounting scheme [...]

UK | Construction Businesses Warned to Get Ready for the Reverse Charge in October 2019

By |May 6th, 2019|

UK construction businesses are reminded to ensure they act to ensure compliance with the reverse charge. Further to our previous story on the introduction of a domestic reverse charge mechanism to supplies of building and construction services from 1st October this year, businesses are reminded to ensure they act now to take [...]

UK | Changes to VAT Treatment for Recovery on Imports From 15th July 2019

By |May 3rd, 2019|

From 15th July 2019, HMRC will no longer allow businesses’ claims for import VAT if they are not the owners of the related goods. HMRC has become aware of incorrect treatment by some businesses whereby import VAT has been incorrectly deducted as input tax. Under newly released guidelines, HMRC has [...]

UK l Postal Packet Toolkit Clarifies New Import VAT Rules in No Deal Brexit

By |April 18th, 2019|

We recently reported a story on the UK government making “postal packet regulations” directly impacting sellers outside the UK, in the event that the UK leaves the EU bloc without a deal. HMRC has now published a toolkit outlining the expected changes to the UK import VAT rules. If this scenario comes [...]

UK | HMRC Arranges Irish “Soft Border” Import VAT Rules in No Deal Brexit

By |April 12th, 2019|

HMRC has recently issued guidance to businesses outlining the VAT treatment that will be applicable to the goods they move from Ireland to Northern Ireland in the event of a no deal Brexit scenario. The guidance explains that if this event comes to pass the UK will have immediate third [...]

UK | HMRC to Gradually Bring in Use of Entry Summary Declarations for EU Imports

By |April 2nd, 2019|

The UK government recently announced its plans relating to the introduction of Entry Summary Declarations in the event that the UK leaves the EU on 29th March 2019, without a deal in place. Entry Summary Declarations (ENSs) are electronic forms detailing information on goods being imported into the EU. Before [...]

UK | HMRC to Gradually Bring in Use of Entry Summary Declarations for EU Imports

By |April 1st, 2019|

The UK government recently announced its plans relating to the introduction of Entry Summary Declarations in the event that the UK leaves the EU on 29th March 2019, without a deal in place. Entry Summary Declarations (ENSs) are electronic forms detailing information on goods being imported into the EU. Before [...]

UK | Changes to VAT treatment of Personal Contract Purchases from 1st June 2019

By |March 26th, 2019|

HMRC’s new policy on the VAT treatment of personal contract purchases (PCP) and similar contracts has come into effect. Recently issued guidance explains that supplies which have in the past been regarded as supplies of goods and also a separate supply of credit, will now in certain cases be deemed [...]

UK | Certain Specified Services to Benefit from Zero VAT Rate in No Deal

By |March 25th, 2019|

On 1st March 2019, HMRC published a new statutory instrument, which in the event of a no deal Brexit, which would expand the right of VAT recovery to businesses supplying certain exempt “specified” financial and insurance services to EU customers. This significant legislative development is an about-turn of government policy, [...]

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