Do people realise what this means especially the bold parts
For imports of goods from outside the UK in consignments not exceeding £135 in value (which aligns with the threshold for customs duty liability), we will be moving the point at which VAT is collected from the point of importation to the point of sale. This will mean that UK supply VAT, rather than import VAT, will be due on these consignments.
The new arrangements will also involve the abolition of Low Value Consignment Relief, which relieves import VAT on consignments of goods valued at £15 or less.
Online marketplaces (OMPs), where they are involved in facilitating the sale, will be responsible for collecting and accounting for the VAT.
For goods sent from overseas and sold directly to UK consumers without OMP involvement, the overseas seller will be required to register and account for the VAT to HMRC
Aliexpress etc, low declared values on goods via ebay etc. Ebay are already set up to charge VAT etc. The £15 limit was introduced by this lot. Previously £18 and had been for a long time so should have been higher. It and other changes to allow some businesses to sell more easily at higher prices rather than getting into export themselves. Some of our ailing high street businesses in some sectors have been helped by ebay - importing and branding their own stuff.
Free trade doesn't mean paper free but the where did stuff come from as far as the EU is concerned should already be in place so just more form filling and tariffs if that proves to be incorrect.
While this all ensures they will collect more VAT which we pay it does nothing about where taxes on profits are declared. Multinational seller no problems, Small businesses elsewhere - haven't a clue what it all mean. Some shops will have the facility to sell vat free if they had any chance of selling out of the EU, USA for instance. That then means customs would apply a charge when it gets here and we pay it including the collection fee but according to the above it seems that wont apply now. They would have to register here.
Free trade for some - not us. We are likely to be firmly locked into UK source or Amazon etc and some multinationals that sell direct if they think it's worth it. LOL That will help us shift our economy sectors wont it. Good for shops but nothing else. Wonder where free ports fits in. That usually implies something - not in this case.
OMP usually stands for Occupational Maternity Pay we must be giving birth to something.
Interesting that none of the complications became clear before people had voted or even really before it was clear that we were moving out.
For imports of goods from outside the UK in consignments not exceeding £135 in value (which aligns with the threshold for customs duty liability), we will be moving the point at which VAT is collected from the point of importation to the point of sale. This will mean that UK supply VAT, rather than import VAT, will be due on these consignments.
The new arrangements will also involve the abolition of Low Value Consignment Relief, which relieves import VAT on consignments of goods valued at £15 or less.
Online marketplaces (OMPs), where they are involved in facilitating the sale, will be responsible for collecting and accounting for the VAT.
For goods sent from overseas and sold directly to UK consumers without OMP involvement, the overseas seller will be required to register and account for the VAT to HMRC
Aliexpress etc, low declared values on goods via ebay etc. Ebay are already set up to charge VAT etc. The £15 limit was introduced by this lot. Previously £18 and had been for a long time so should have been higher. It and other changes to allow some businesses to sell more easily at higher prices rather than getting into export themselves. Some of our ailing high street businesses in some sectors have been helped by ebay - importing and branding their own stuff.
Free trade doesn't mean paper free but the where did stuff come from as far as the EU is concerned should already be in place so just more form filling and tariffs if that proves to be incorrect.
While this all ensures they will collect more VAT which we pay it does nothing about where taxes on profits are declared. Multinational seller no problems, Small businesses elsewhere - haven't a clue what it all mean. Some shops will have the facility to sell vat free if they had any chance of selling out of the EU, USA for instance. That then means customs would apply a charge when it gets here and we pay it including the collection fee but according to the above it seems that wont apply now. They would have to register here.
Free trade for some - not us. We are likely to be firmly locked into UK source or Amazon etc and some multinationals that sell direct if they think it's worth it. LOL That will help us shift our economy sectors wont it. Good for shops but nothing else. Wonder where free ports fits in. That usually implies something - not in this case.
OMP usually stands for Occupational Maternity Pay we must be giving birth to something.Interesting that none of the complications became clear before people had voted or even really before it was clear that we were moving out.
