We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

New rules introduced to tackle online VAT fraud

19 Mar 2018

New rules aimed at combating online VAT fraud have been introduced by the government.

The rules, which were first announced by Chancellor Philip Hammond during the 2017 Autumn Budget, strengthen the powers to make online marketplaces accountable for VAT fraud perpetrated by online sellers using their platforms.

Under the government’s new rules, online marketplaces will be liable for any unpaid tax if they do not remove sellers who fail to pay VAT from their sites.

The regulations apply to both UK sellers and those based overseas.

Marketplaces are also now required to ensure that sellers using their platforms display a valid VAT number. The government hopes that this will help potential buyers to make an ‘informed choice’ in regard to purchasing goods from a VAT-registered business.  

Commenting on the introduction of the new rules, Mel Stride, Financial Secretary to the Treasury, said: ‘Whilst the honest majority pay what they owe, some businesses that sell goods online to UK shoppers are failing to pay the correct amount of VAT.

‘We are clear that everyone must pay their fair share of tax, and tackling tax evasion in all its forms is a top priority for the government.’

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2024 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.