HMRC has issued new regulations to remove the requirement for businesses to report sales of mobile phones and computer components. The Value Added Tax (Reverse Charge Sales Statements) (Revocation, Saving and Transitional Provision) Regulations, SI 2022/548, remove the requirement for VAT-registered businesses to submit sales statements for certain goods, including mobile phones and computer chips, to HMRC. The changes are effected by revoking VAT Regulations, SI 1995/2518, regs 23A–23D.
Source: taxjournal.com
Latest Posts in "United Kingdom"
- Property TOGCs Under the Microscope: Navigating VAT Conditions and HMRC Expectations
- Fintua Sponsors Indirect Taxes Annual Conference 2025 in London (Nov 12)
- VAT Hike Would Cause Biggest Economic Damage, Leading Economists Warn Chancellor
- HMRC Clarifies VAT Treatment of Overage Payments on Land Sales
- VAT Error Correction: Amending Returns, Claiming Refunds, and Avoiding Penalties
