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12 February 2013
NEIL WARREN considers new legislation on a zero VAT threshold and what it means for businesses based outside the UK
KEY POINTS
- Since 1 December 2012 some overseas businesses with low turnovers have had to register for UK VAT.
- The registration limit for an overseas business has been reduced to zero.
- Supplies of land are not affected by the new rule.
- There are exemptions eg for zero-rated sales.
- The effect of having a UK base.
One challenge when writing about VAT is to decide how important a change in the legislation is for readers: does it need to be brought to their attention with the speed and drama we see on TV when the latest financial crisis hits our shores?
Alternatively is it as unimportant as revealing the identity of the latest contestant to be eliminated from X Factor or Britain’s Got...
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