Vat increase how much

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Changes in VAT and other indirect taxes. Article: Are you on top of indirect tax changes? Changes in VAT and other indirect taxes for and beyond 29 July Determining the origin of goods for customs purposes is a complex area in which many traders face challenges.

Businesses with operations in Northern Ireland face particular complexity which needs to be understood. VAT registration requirements can arise in a number of contexts as a result of Brexit, for example, to continue to take advantage of EU simplifications.

Even where VAT registrations were already in place in the EU, fiscal representation or an EU presence may become a requirement Terms of business with customers and suppliers should be reviewed.

The Incoterms used will determine where duty, transport or other administrative costs will be due and who is responsible for these Back to top A new UK regime for distance sales to UK consumers was introduced Overseas businesses selling goods directly to UK consumers and UK businesses that are not VAT registered must apply new VAT and Customs Duty rules from 1 January Back to top 30 June End of opportunity to agree an arrangement with HMRC for deferred VAT payments from The government offered taxpayers that deferred VAT payments between 20 March and 30 June the option to spread their repayments over interest- free instalments, to pay back the VAT amounts or to agree alternative arrangements for payment with them.

Visit our Rethinking the region hub and read more guidance from BDO specialists in your area. Tom Kivlehan. Lyndon Firth. Related Insights see all insights. New reverse charge VAT: Are you ready? Save for later. How could this impact your business? Next steps We expect additional guidance on the transitional rules to be released by the Authorities in the coming weeks, and in the meantime we recommend taxpayers start to measure the impact of the increased VAT rate on their cash flow, operations and supply chain.

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