On 1 July 2021 six months later than intended the EU introduced its new VAT rules for e-commerce businesses. These have been in development for several years and represent a central plank of its commitment to modernising VAT. The overriding purpose of this process is to reduce the amount of VAT lost – the gap between expected and actual revenue – alongside simplifying compliance for traders. The latter aspiration is intended to play a large part in achieving the former.
For UK businesses dealing with these changes has come hot on the heels of managing other changes resulting from Brexit. While it has been deeply disruptive trying to trade under three different sets of rules in the space of six months there is now a period of certainty on the horizon. This offers an opportunity to settle new approaches and engage efficiencies which can be achieved....
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