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On the 8th day of Christmas the VAT man gave to me – EC registrations that are truly easy…..

December 19, 2014

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Type: Latest Blogs, Tax

On the 8th day of Christmas the VAT man gave to me – EC registrations that are truly easy…..

 

VAT was introduced to the UK on April 1st  1973 (at one minute past midnight, I’m reliably informed), which can sum up why this European tax is sometimes viewed, well humorously?!

 

The more important calendar day for VAT on services over the last five years has been the 1st January’s – giving all businesses relevant to each change a very happy New Year!

 

As HMRC have tried to get to grips with the technological age (no, let us not mention their recent website changes) the rules for digital services being supplied to end users are set to change with effect from 1st January 2015.

 

These B2C supplies, as HMRC like to describe them, are currently subject to UK VAT however from the New Year, they will be subject to VAT where the consumer belongs.

 

Reign in that reindeer just one minute and consider….. what is a digital service?….are you supplying the portal or the end user?…..can you identify the end user by county code on the SIM?…….could your services exempt?…..Are you making bundled or single supplies?……

 

Depending on the answers, you might be liable to register for VAT in all the EU countries in which your customers belong.

 

Some people might view that as fascinating, exciting even, but if we kindly suggest they go back to their dark room and lie down until that feeling passes, we should consider the level of administration that would impose on those businesses.

 

To help with this, there is a return which can be made to the UK HMRC which will list all the countries sold to in each quarter, the value of the sales and the relevant VAT and HMRC will collate all of those details and pass on the VAT your business collects to the various EU countries.

 

A helping hand from HMRC that could actually help….(surely not)? YES! The only drawback is the name – Mini One Stop Shop – MOSS.

 

But hey, would you rather have a useful scheme or a snappy name for it?

 

Rolling Stones gather none (or get any satisfaction, but that’s a whole other blog).

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