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UK announced a new penalty and surcharges system applicable to late VAT return submission and VAT payments from January 2023. This new system raises the possibility for taxpayers to receive a penalty or surcharge from HRMC.
UK new Customs Declaration Service will replace CHIEF. Also, the import controls expected for July are delayed.
Plastic Packaging tax is introduced next year in the UK as part of the Green taxation developed by the country.
HRMC announced plans to allow non-established businesses to receive UK VAT refunds directly in their foreign bank accounts.
It is possible for UK-registered businesses to delay the payment of customs duties, VAT, and excise duties. Certain conditions must be met and an application should be approved by HMRC.
Check out this comprehensive guide on importing goods into the UK.
HMRC released a tool for checking the validity of EORI numbers in the UK. These UK EORI numbers should not be confused with EU EORI numbers.
HMRC postponed the implementation date of stricter requirements in MTD due to Covid-19. This extension is coming to an end.
In light of Brexit, all EU companies will need to change the way they recover input VAT in the UK when they are not VAT registered.
A fiscal representative needs to be appointed in several EU countries once a no-deal Brexit becomes effective. Marosa can help you with this new obligation.
VAT rates on e-books have decreased widely since October 2018.
Intrastat returns will still be required after Brexit by those businesses registered for VAT in the UK.