News

Finland defers import VAT from January 2018

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Date22 Dec 2017
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From 1st January, 2018 importers of goods from outside of the EU into Finland will benefit from an import VAT deferment. Going forward importers with a Finnish VAT number will no longer be required to pay the import VAT on clearing the goods. In its place, they can wait to self-assess the VAT via their...
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UK – Tax News

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Date14 Nov 2017
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The UK sets out post-Brexit cross-border tax plans On the 9th October, 2017, the UK Government released a number of ‘white papers’, setting out how it will accomplish its trade and customs policies, containing its customs, value-added tax, and excise regimes, when the UK leaves the European Union (EU). The UK’s ‘Customs Bill’ White Paper,...
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UK Tax

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Date16 Aug 2017
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UK postpones tax technology plans George Osborne, the previous Chancellor of the Exchequer announced last year “the death of the tax return”. A new plan named “Making Tax Digital’ and was aimed at automating all UK tax reporting by 2020. All transactions would require to be recorded and reported digitally from the taxpayer ERP system....
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VAT rises ruled out ahead of UK elections

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Date19 May 2017
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The current Conservative government and the main opposition Labour party recently ruled out future rises in VAT ahead of June’s election. Since the 10%+ debit from the financial crisis, the UK has enjoyed a decreasing government deficit, but still faces a challenge to balance the books. Since the 2015 elections pledge from the Conservatives not...
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More than 35,000 micro-businesses drawn into Brexit EU VAT net

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Date17 May 2017
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It is estimated that 35,755 UK micro-business selling over the internet into Europe face being drawn into the EU VAT net for the first time following Brexit. Cost could reach €216,000pa to meet this new requirement. EU VAT exemption will benefit UK e-Commerce businesses As part of the UK’s membership of the EU, UK-based businesses...
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BREXIT – UK VAT and potential tax opportunities

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Date26 Apr 2017
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The concerns around Brexit has been dominated by the potential negatives and uncertainties facing the UK economy as it arranges to leave the European Union. This has been compounded in recent weeks but the probability of a ‘hard’ Brexit, with UK companies facing restricted access to the EU’s Single market, Customs Union and immigrant workforce,...
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UK – VAT split payment system

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Date24 Apr 2017
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Recently the UK government launched a consultation on the use of split VAT payments for the e-Commerce industry. This split payment mechanism consists of the customer paying the VAT share straight to the relevant tax authorities, instead of the usual arrangement where the supplier gathers this VAT amount from the customer and pays this VAT...
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UK – VAT measures announced in the Budget

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Date19 Apr 2017
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The Chancellor announced in the UK Spring Budget new measures for tackling VAT avoidance and evasion, together with an increase in the registration and de-registration thresholds. VAT Avoidance The elimination of the use and enjoyment provisions for business to consumer mobile phone services was one of the measures. The reason for this change was to...
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UK – changes to VAT

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Date22 Mar 2017
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The UK raises VAT Registration Threshold On 8th March, 2017 the UK Chancellor announced in his Spring Budget that the annual VAT ‘Registration Threshold’ will rise from £83,000.00 to £85,000.00, with the ‘De-Registration Threshold’ also increasing from £81,000.00 to £83,000.00. These new thresholds will apply from 1st April, 2017 and will only apply to UK...
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