Currently the place of taxation is determined by the location of the supplier. From the 1st of January 2015 the place of taxation will change to where the EU consumer lives.
An estimated 34,000 Digital Services businesses are eligible in the UK for VAT Mini One Stop Shop (MOSS). This will allow businesses to register online for VAT services meaning that they do not have to register VAT separately in each country where they do business. Between 27,000 and 42,000 UK businesses are expected to register for the VAT MOSS service and can begin registering on the 20th of October.
Digital Service businesses include: broadcasting, telecommunications, e-service supplies, telephone services, music suppliers, films and games suppliers and apps services.
If you supply consumers through an online store or gateway it is their responsibility to declare and pay any VAT due. In this instance the rule changes do not directly affect you.
If you are an EU business you may register and use the union VAT MOSS online service in the member state of your business establishment. You will then be able to submit a single calendar quarterly VAT MOSS return and payment covering EU digital service supplies.
To find out more about changes to VAT follow the link: http://www.hmrc.gov.uk/posmoss/
If you would like advice about your VAT scheme or would like us to submit your VAT return on your behalf please contact us.
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With HMRC becoming more spontaneous with tax investigations we strongly suggest that every business is insured against the cost of investigation. So strongly in fact, that we automatically build it in to our fixed fee agreements. Many of our clients have been very grateful for this insurance when HMRC have come knocking.
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