Navigating the world of taxation can be like steering a ship through a storm, especially for small and medium-sized e-commerce ventures in the UK. The lighthouse in this storm? A solid understanding of VAT rates. This article will provide you with a clear...
A new penalty system will take effect for VAT periods beginning on or after 1 January 2023. The aim is to penalise persistent offenders rather than those who make the occasional mistake or late return. The systems for late submissions will actually be different from...
Unless you are trading in the UK only with an income of less than £85,000 and are NOT dropshipping from an overseas supplier, then you will need to consider how to account for VAT on your Shopify sales. What is Shopify VAT? VAT is a tax that is levied on the sale of...
In this article, we will look at Postponed VAT Accounting, how it works and how it could be of benefit to your business. What is Postponed VAT Accounting? So, what is postponed VAT accounting? Postponed VAT Accounting has been available in the UK since Brexit on 1...
Hot on the heels of the biggest change to VAT since its inception, there are now proposals to further reform EU VAT that have recently been in consultation. The proposals have three strands: The modernisation of VAT reporting obligations and the facilitation of...
The Government issued proposals for an online sales tax earlier this year. Here we take a look at the arguments for and against and what challenges the introduction of such a tax might pose. Why Is An Online Sales Tax Needed? The coronavirus pandemic and consequent...
