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Tag: UK

UK continues to explore VAT split payments on foreign e-commerce

UK continues to explore VAT split payments on foreign e-commerce

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Ongoing evaluation of withholding VAT on non-resident sellers The UK government has recommitted to exploring VAT split payments by payment service providers on ecommerce trade between UK consumers and non-resident sellers. This came in yesterday’s Treasury Command Paper on tax administration and maintenance. Many challenges

UK Making Tax Digital for VAT revenues falls short by £215m after £357m investment

UK Making Tax Digital for VAT revenues falls short by £215m after £357m investment

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HMRC’s MTD for VAT 45% behind 2020/21 revenue budget; cost for taxpayers £1.5billion The UK’s National Audit Office has stated that expected revenues from HMRC’s Making Tax Digital for VAT (MTD) campaign only raised £265million in 2020-21 against the forecast of £470million. However, the aim

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