International VAT on Cross-Border Transactions - Beyond the Basics - An Essential Guide

Introduction

This new virtual classroom seminar will explore how VAT applies in an international context in relation to EU, non-EU, and intra EU transactions, and not just goods, but also services.

It will be particularly useful for accountants, finance directors, solicitors and advisers and any business who would like a greater understanding of VAT on cross-border transactions.

This session is pitched at intermediate level and assumes a good knowledge of the workings of UK VAT and an understanding of the basics of this subject.

For those who would like an introduction to the subject, please see International VAT on Cross-Border Transactions - An Essential Introduction - Learn Live

What You Will Learn

This live and interactive broadcast will cover the following:

• Overview of UK:EU trade (VAT and procedural)
• UK: to and from the EU, and the rest of the world
• UK import and export procedures and requirements, costs, and payment of taxes (PIVA etc)
• VAT implications of selling into the EU
• Imports under £135
• Sales via Online Market Places (OMPs)
• The strict conditions for zero rating an export
• A mention of Customs Duty
• Place of Supply of Goods, and the relevance of Inco terms- is there a VAT exposure?
• The EU Single Market and trade within the ‘remaining 27’ Member States including Northern Ireland
• Acquisitions
• Removals
• Extras for ‘call off’ stock, ‘consignment stock’, ‘triangulation’ and ‘chain’ transactions
• Distance Sales
• The Import One Stop Shop (IOSS) and the One Stop Shop (OSS) for Distance Sales etc

• Place of Supply of Services
• (Not all services are the same and different rules apply according to type)
• The General Rule (B2B and B2C) and the importance of ‘belonging’
• Exceptions to the General Rule and Simplifications where available
• Brexit benefits for UK businesses supplying certain services to non-UK clients
• The ‘effective use and enjoyment’ rules-overview
• The Reverse Charge
• The Mini One Stop Shop for telecoms and e-services, and the OSS for other services

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.