VAT - It’s still very complicated
It’s a great idea to sell your products online. But what if you’re thinking about using the likes of Amazon or eBay to export to the EU or the rest of the world? It’s an even greater idea to check to see what the tax implications are.
Are you struggling to understand the VAT rules for selling to these markets? Well they are extremely complicated. So, before you start you should definitely check with your accountant what HMRC wants you to do.
There are different rules for:
- selling goods or services
- selling to a business or private consumer
- where the place of supply is
- types of services provided
- being VAT registered in multiple jurisdictions.
AND the Chancellor announced in the Autumn Budget that online marketplaces will now have to take responsibility for ensuring that their traders pay VAT (or pay it themselves).
Still Confused? Talk to your accountant.