by VelocityAS | Aug 2, 2021 | Brexit, Tax, VAT
The EU e-commerce package came into effect on 1 July 2021. It introduced reforms in respect of the movement of goods from Northern Ireland to the EU and imports of low value goods into the EU or Northern Ireland. Who is affected? The changes will affect you if you:... 
by VelocityAS | Feb 1, 2021 | VAT
The domestic VAT reverse charge for building and construction services finally comes into effect on 1 March 2021. The start date was originally 1 October 2019, but it was postponed by one year until 1 October 2020 to allow those affected more time to prepare. The... 
by VelocityAS | Jan 2, 2021 | Brexit, Business, Tax, VAT
The Brexit transitional period came to an end on 31 December 2020. As a result, new rules apply from 1 January 2021. As the situation is evolving, it is recommended that you check the guidance on the Gov.uk website regularly. EORI number From 1 January 2021 you will... 
by VelocityAS | Oct 28, 2020 | Business, COVID-19, HMRC, Tax, VAT, Winter Economy Plan
In his Winter Economy Plan, the Chancellor, Rishi Sunak, unveiled measures which will allow self-assessment taxpayers and VAT-registered businesses more time to pay back deferred tax. New Payment Plan for VAT At the start of the pandemic, VAT-registered business could... 
by VelocityAS | Oct 28, 2020 | VAT
Postponed VAT accounting is being introduced from 1 January 2021. This will affect you if you are VAT-registered and you import goods into the UK, particularly if you are a smaller business and you do not currently use the Duty Deferment Scheme. Postponed VAT... 