VATupdate

IOSS update 1 July 2021

Following on from our update “UK sales to EU consumers – VAT changes from 1 July 2021 “ on 27 April, our understanding is that UK businesses that want to register for the new EU Import One Stop Shop scheme (IOSS) to sell their goods to EU consumers will need to do so using an EU IOSS intermediary. We have confirmation that a direct IOSS registration is not currently possible for UK businesses.

The Intermediary requirement will require a UK business to identify such a person and inevitably to incur some costs for use of their services. Understandably, there will be a high demand for an Intermediary’s services so we recommend that urgent action is taken now in order to be ready to use IOSS from 1 July.

Source: centurionvat.com

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