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?
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Deadline to pay Class 1B NI
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HMRC has confirmed that it is using a new automated process to speed up National Insurance refunds. Where its records suggest that someone may have overpaid, HMRC will write to them asking them to check their employment and contribution details before any refund is processed. Could you be due money back?
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Should you voluntarily payroll benefits in kind?
The window to sign up to voluntarily payroll non-mandatory benefits in kind for 2027/28 will open in November. Is it worth volunteering to pay HMRC earlier than required or should you wait until it becomes mandatory in 2028/29?
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.
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