New guidance for low value sales to Northern Ireland from 1 July 2021
The import one stop shop (IOSS) launches on 1 July 2021. This means that no VAT needs accounting for on low value consignments at the point of arrival in the EU country. But what are the responsibilities if a business makes these low value sales into Northern Ireland?
The IOSS allows businesses that sell low value (not exceeding £135) goods into the EU to register for VAT in a single EU country and account for all EU sales on a single return. HMRC has now published guidance for businesses that make sales into Northern Ireland, which is still part of the single market and customs union. The guidance confirms that these businesses must inform HMRC of the following details:
- the IOSS registration number
- the name of the EU country they’re registered in
- business name, address and contact details; and
- UK VAT registration number, if applicable.
The guidance contains a link to make the disclosure.
Related Topics
-
MONTHLY FOCUS: TAX PLANNING FOR MARRIED COUPLES (TRADERS AND COMPANIES)
Married couples have been taxed separately rather than as a unit since 1990. There are a number of strategies married couples (and civil partners) can adopt to save tax. This Monthly Focus looks at business-related income planning.
-
Weekend November PAYE deadline
The next electronic payment deadline for PAYE falls on a weekend. What do you need to do?
-
Compliance check tool gets an update
If you are on the receiving end of a compliance check, you might head to HMRC’s bank of online information to find out what to do. However, this can be overwhelming. How can an updated tool help you to get the correct information for your circumstances?
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.