The reverse charge mechanism is a VAT process where the buyer, not the seller, pays VAT directly to the government. Post-Brexit, UK businesses trading with EU entities must check updated VAT rules to ensure correct application. This mechanism primarily applies to cross-border B2B transactions and certain domestic B2B scenarios to prevent tax fraud.
Read further Fonoa
Click on the logo to visit the website
Latest Posts in "United Kingdom"
- VAT Beginner’s Guide: Essential Basics for UK Business Registration and Rates
- When Do You Have to Charge Yourself VAT? Key Situations Explained
- Supreme Court Clarifies VAT Group Rules and Time of Supply Interplay
- Isle of Wight NHS Trust vs HMRC: VAT Exemption Dispute on Locum Medical Practitioners
- HMRC Guidance: How to correct VAT errors and make adjustments or claims (VAT Notice 700/45)