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Effective 01 January 2015: If you are based in the UK and supply digital services such as e-books and software to consumers in the EU, VAT will be payable in the consumer’s country, not in the UK, and it will be charged at the rate that applies in the consumer’s country. To fulfil your obligations, … Continue reading
WHAT IS IT? It is a simplified VAT scheme that allows businesses (with £150,000 turnover or less) to charge standard VAT on sales but pay over a reduced amount to HM Revenue and Customs (HMRC). To illustrate (let’s ignore purchases for simplicity): Standard VAT business Net Sales £100 Standard VAT 20% £20 Gross Sales £120 … Continue reading
Phoenix Debola 