When you are buying a business it is important to make sure you understand the VAT implications of the purchase and how to notify HM Revenue and Customs
The Import One Stop Shop (IOSS) was introduced in July of 2021 as part of the wider EU VAT reforms. It is a scheme designed to help online sellers access the EU market and sell imported goods to end customers in a simplified manner.
The VAT reverse charge for building and construction services is coming into effect so Sam answers the most frequently asked questions on this topic!
Sam provides a guide into what VAT MOSS is, whether it applies to you and when you do, and don’t have to register.
HMRC has announced that the VAT reverse charge has been put back a year meaning it won’t start until 1 October 2020.