Admin burden reduced for UK-resident digital sales platforms
[ad_1] A European Commission regulation ensures that a UK-resident platform hosting EU-resident sellers may only need to report data to HMRC. Reporting rules for digital platforms come into force in the UK on 1 January 2024. These rules require UK-resident digital platforms to report information to HMRC on the activities of sellers based on their […]
Transitional arrangements ending for NI second-hand car sales
[ad_1] From 1 November 2023, businesses will have to account for VAT on the full selling price of all vehicles bought in Great Britain and sold in Northern Ireland. Until 1 May 2023, businesses could account for VAT on second-hand vehicles bought in Great Britain and sold in Northern Ireland under the second-hand margin scheme. […]
HMRC’s letters regarding electronic sales suppression
[ad_1] Businesses who might not have paid the correct income tax, corporation tax or VAT owing to misuse of their till systems are receiving letters from HMRC. HMRC is sending letters with the intention of giving businesses using electronic sales suppression (ESS) an opportunity to get their tax affairs in order by coming forward voluntarily […]