United Kingdom - vatcalc.com

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UK £135 import VAT threshold – what is intrinsic value?

2 January 2021 in

Customs declarations

The UK’s ecommerce import VAT and deemed supplier online marketplace changes on 1 January 2021 included the obligation to charge output (sales) VAT on import consignments not exceeding £135 intrinsic value. But how is this £135 threshold calculated? And what if the consignment is made-up

UK e-commerce overseas £135 goods import VAT and marketplace changes 1 Jan 2021

1 January 2021 in

EU VAT e-commerce package

The UK has implemented its e-commerce VAT reforms for online sellers and marketplaces (OMP) on 1 January 2021. This changes the rules on import VAT for e-commerce, and makes marketplaces liable for the UK VAT obligations of their third-party sellers. This will mean UK VAT

UK VAT gig and sharing economies consultation

17 December 2020 in

Gig and sharing economies

The UK Treasury last week launched a public consultation on the taxation of the gig economy – ‘VAT and the Sharing Economy’ Its aim to redesign the tax system which is struggling to fairly capture revenues from a sector estimated to be worth £140bn by

UK Brexit import VAT and customs paperwork

29 October 2020 in

Brexit

With the end of the Brexit transition period looming on 31 December 2020, it is important the UK and EU business prepare for the new border tax and declarations requirements. To complete declarations and tariff calculations, you will need to be able to identify commodity codes

UK MTD – Death of the VAT Return?

5 April 2019 in

Death of the VAT return

Death of the VAT Return Over one million UK businesses are in the midst of HMRC’s biggest transformation of tax reporting – Making Tax Digital for VAT (MTD). The first mandated MTD VAT returns went in last month; the big first quarterly wave goes in

UK increases VAT from 17.5% to 20% 4 January 2011

4 January 2011 in

EU VAT rates

Financial crisis leads to austerity tax rises The UK has increased its standard Value Added Tax rate from 17.5% to 20% from 4 January 2011. This comes as the government’s deficit has ballooned in response to bailing out several banks during the financial crisis of

Category: United Kingdom

UK £135 import VAT threshold – what is intrinsic value?

UK e-commerce overseas £135 goods import VAT and marketplace changes 1 Jan 2021

UK Brexit import VAT and customs paperwork

UK MTD – Death of the VAT Return?

UK increases VAT from 17.5% to 20% 4 January 2011

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