HMRC has issued 4,600 joint and several liability notices to online marketplaces since September 2016 when legislation came into effect requiring action against overseas sellers who fail to comply with their VAT obligations.
HMRC has issued 4,600 joint and several liability notices to online marketplaces since September 2016 when legislation came into effect requiring action against overseas sellers who fail to comply with their VAT obligations.
According to HMRC’s latest figures, this has yielded over £200m in additional VAT up to November 2018. During the same period, the number of applications for VAT registration by overseas businesses grew to 58,000.
HMRC told the public accounts committee (PAC) in April 2018 that it expects these measures, together with the fulfilment house due diligence scheme, to raise just under £1bn in extra VAT by 2023. The PAC has asked HMRC to report back to it in March 2019 with the latest figures.
HMRC has issued 4,600 joint and several liability notices to online marketplaces since September 2016 when legislation came into effect requiring action against overseas sellers who fail to comply with their VAT obligations.
HMRC has issued 4,600 joint and several liability notices to online marketplaces since September 2016 when legislation came into effect requiring action against overseas sellers who fail to comply with their VAT obligations.
According to HMRC’s latest figures, this has yielded over £200m in additional VAT up to November 2018. During the same period, the number of applications for VAT registration by overseas businesses grew to 58,000.
HMRC told the public accounts committee (PAC) in April 2018 that it expects these measures, together with the fulfilment house due diligence scheme, to raise just under £1bn in extra VAT by 2023. The PAC has asked HMRC to report back to it in March 2019 with the latest figures.
