News
Distance Selling Rules Changes
The current distance selling rules, which require VAT registrations in each EU country where thresholds are reached, will, for the most part, disappear on 1 January 2021 and VAT will be due in the member state of destination, otherwise known as the 'destination...
Low Value Consignment Relief Withdrawal
Low-Value Consignment Relief (LVCR) relieves import VAT on commercial imports of goods valued at £15 or less or €22 within the rest of the EU. Customs duty is relieved on commercial imports of goods valued at £135 or less (except those that contain excise goods –...
Amazon Passes On Digital Services Tax
Amazon fees increased by 2% from 1 September. The tax was introduced from 1 April but Amazon have held off passing it on until now. The Digital Services Tax is levied on the revenues of search engines, social media services and online marketplaces which derive value...
VAT On Digital Services And Brexit
UK sellers that currently sell digital services across the EU use the UK's VAT Mini One Stop Shop ('MOSS') to declare and pay the VAT due in EU member states. As the UK leaves the EU this system will no longer be available. The final return period for the UK's VAT...
Amazon Seller Brexit Implications
When the UK Transition agreement expires on the 1st of January 2021, there will be a number of changes to the way Amazon operates across the new UK-EU customs border: Pan-European FBA inventory transfers will stop between the UK and the EU. However, Pan-European FBA...
Elver E-Commerce Accountants Feature on YouTube Channel
This month our director, Steve Blackmore, was interviewed by the YouTube Channel E-Commerce agency, on the subject of e-commerce tax and accounting. You can catch the interview here:
Job Retention Scheme
A reminder that the JRS is currently scheduled to end on 31 October. The government contributions reduced to 70% in September and will reduce to 60% in October. Coronavirus Business Interruption loans The CBILS scheme ends on 30 September, but Bounce Back Loans are...
Local Lockdown Support
New grant support was announced 9 September that offers businesses in areas subject to a local lockdown a measure of financial support. HM Treasury said: Businesses in England required to close due to local lockdowns or targeted restrictions will now be able to...
Amazon Sweden
In early August Amazon announced that preparations were underway for the launch of Amazon.se and it is now available as a seventh country option in an EU Seller account.
Kickstart Scheme
A new scheme to help young people to work and spur Britain’s economic revival has been launched by the UK Government. Businesses are now able to sign up to be part of the landmark £2bn Kickstart scheme, giving unemployed young people a future of opportunity and hope...
£20m New Funding For Small And Medium Sized Businesses in England
Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic. Small and medium-sized businesses will have access to grants of between £1,000 - £5,000 (but...
Making Tax Digital (“MTD”)
Making Tax Digital, which currently only impacts VAT registered businesses above the VAT registration threshold (effectively excluding voluntary registrations) will apply to all UK VAT registered businesses from April 2022 and most business income tax records from...