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Reverse charge requires UK businesses to self-account VAT on certain overseas services and specific domestic supplies like construction and mobile phones, ensuring fair tax treatment and fraud prevention while demanding accurate invoicing and record-keeping.
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Post-Brexit, VAT on international goods varies by origin, with postponed accounting for EU imports and standard import VAT for non-EU goods, increasing compliance complexity and requiring timely customs declarations and VAT reporting.
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Self-supply VAT arises on deregistration stock, Flat Rate Scheme exits, private fuel use, and property transactions, involving careful valuation and documentation to avoid unexpected VAT charges and maximize input tax recovery opportunities.
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Businesses must maintain rigorous records and ensure proper timing, valuation, and reporting of reverse charge and self-supply transactions to prevent penalties, supported by staff training, software automation, regular reviews, and professional VAT advice.
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