Selling low values parcels into Europe
Do you sell low value items into Europe? Are you a so-called distance seller? Under the new UK and EU simplification rules, there will be an exemption for distance sellers of €150 or £135 on any consignment. This protocol saves having to register for VAT in multiple EU states.
These rules will apply at different times depending on where you are based. Anyone exporting from the EU into the UK will benefit from 1st January 2021. However, the similar EU rules for trade from the UK to the EU will not commence until 1st July 2021 because of delays caused by the Coronavirus. For the interim rules, here is some excellent guidance on the subject from Accountancy Europe – https://www.accountancyeurope.eu/publications/vat-customs-duty-and-brexit-prepare-now/?mc_cid=67fa3d7d3b&mc_eid=61683b572f
The above link also covers Brexit changes to trading arrangements as seen from the other side of the English Channel. Good practical help.
As a member of the Small Business Committee of Brussels based Accountancy Europe, if you need any more pointers, give me a call, glad to help.
Ray Baxter, Baxterworld
You can contact Ray on 07803 624 748 or [email protected]