VAT 2010: “Basic issues” for businesses

The 2010 VAT changes start becoming effective from 1 January 2010. Businesses need to be aware as to how these changes affect them and to be prepared in terms of compliance with the VAT changes 2010. We have a checklist below which raises questions that might be relevant to your business in anticipation of the EU 2010 cross-border VAT changes:

-As the changes primarily involve cross-border B2B supplies of services, how will you know whether your customer is in business?

– What should you do if your customer cannot provide sufficient evidence that they are in business?

-The rules relate to supplies to a “relevant business person”. Who is a “relevant business person”?

– What if your customer is involved in both business and non-business activities e.g. in the case of a charity or a government department?

– How do you treat a supply to a “business” customer who will use it wholly for their private use or the private use of their staff?

Welcome to RKG Consulting, Chartered Tax Advisers: Call +44 (0) 207 839 0389

RKG Consulting, Chartered Tax Advisers, is a central London, UK based professional services firm, established in 1985, providing accountancy, tax and immigration services to global clients including NRIs. We specialise in the set-up and administration of UK companies used for international trading in goods and services, or for holding investments such as UK property or shares. We advise on UK and international direct and indirect tax matters including VAT and customs issues. We are also OISC-licensed immigration practitioners and can arrange work and Investor visas for non-EU clients. Our clients include individuals, companies, overseas corporate service providers and government-related organisations.