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VAT and overseas traders: Revenue & Customs Brief

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Finance Act 2012 imposes, with effect from 1 December 2012, a new obligation to register for VAT on overseas traders making taxable supplies of goods or services in the UK.

A new VATA 1994 Sch 1A inserted by FA 2012 Sch 28 effectively removes the registration threshold, currently £77,000, for ‘non-established taxable persons’.

‘Overseas businesses making only reverse charge supplies of services to the UK will not normally be affected by the removal of the threshold,’ HMRC said in Revenue & Customs Brief 31/12.

Issue: 1148
Categories: News , Indirect taxes , VAT