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
