EU VAT One-Stop-Shop to launch in July 2021

The European Commission, in response to the challenges created by the Coronavirus pandemic, has decided to postpone its new European VAT rules for business-to-consumer (B2C) transactions until 1 July 2021. These new rules are part of the EU’s new e-commerce package and will look to introduce a VAT One-Stop-Shop (OSS) for B2C sales. Originally due…

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Commodity codes, explained

If you move goods to or from anywhere in the world, you will need to use a commodity code to classify your consignment. Here’s what you need to know. What is a commodity code? The UK now uses a standardised set of codes, borrowed from the World Trade Organisation (WTO) “Harmonised System”, to classify goods….

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The General Export Facility, explained

Launched in December last year, the General Export Facility is designed to help businesses export their goods and services overseas. But what is the scheme? And how could it help your business? Overview The General Export Facility (GEF) is a guarantee scheme run by the Government’s export credit agency, UK Export Finance (UKEF). The facility…

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VAT after Brexit: what you need to know

Following the end of the transition period on 1 January 2021, many businesses are taking on the challenge of overseas accounting for the first time. To support your business, we’ve answered some of the most common questions we’ve received over the past month. Is VAT applicable on the purchase of a service from EU countries?…

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