New guidance for low value sales to Northern Ireland from 1 July 2021
The import one stop shop (IOSS) launches on 1 July 2021. This means that no VAT needs accounting for on low value consignments at the point of arrival in the EU country. But what are the responsibilities if a business makes these low value sales into Northern Ireland?
The IOSS allows businesses that sell low value (not exceeding £135) goods into the EU to register for VAT in a single EU country and account for all EU sales on a single return. HMRC has now published guidance for businesses that make sales into Northern Ireland, which is still part of the single market and customs union. The guidance confirms that these businesses must inform HMRC of the following details:
- the IOSS registration number
- the name of the EU country they’re registered in
- business name, address and contact details; and
- UK VAT registration number, if applicable.
The guidance contains a link to make the disclosure.
Related Topics
-
HMRC and Companies House to scrap free filing services
From April 2026 companies won’t be able to file their tax returns and accounts using the HMRC and Companies House free-to-use service. What steps should companies take ahead of the deadline?
-
Annual accounting: how are interest and late payment penalties calculated?
If you use the annual accounting scheme, you will submit one return each year instead of four or twelve. What are the potential traps if you don’t meet the scheme conditions?
-
Is basis period reform really over and done with?
You heaved a sigh of relief after submitting your 2023/24 self-assessment tax return, especially as it meant the fiddly basis period calculations were behind you. But why might it be to your advantage to revisit them?
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.