Brexit - what now? How about VAT?
So now that Brexit is happening tomorrow - do we still charge VAT? What about UK companies, can they charge VAT?
This is pretty confusing and I doubt our accountant knows.
@Clouvider maybe you can chime in or @AnthonySmith ?
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Yes, you charge VAT and you keep it.
While we leave tomorrow (for fucks sake) nothing actually changes for at least a year probably (almost certainly) longer while in the transition period, the UK is effectively out but agreeing to bide by all the rules and regs until Boris does his shit trade deal, sells the NHS (by was of indirect big pharma), fucks over the poor and makes the rich richer.
Can you tell how I voted
edit: For clarity I am not an expert I gave up a few months ago with all this nonsense, the thing about the UK people need to remember is that we put regulation in place to get billions from big business and have almost ZERO plan or resource to enforce any regulations on the little/medium/somewhat large folks.
Even now there is no dedicated vatmoss regulation haha.
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until new rules (wich is not clear yet) you will function until now. Romanian case : we are obligated to charge vat to any company out of UE region except if have special agreement. So "teoretically" start from Tumorrow we need to colect vat also from UK ..
yes and next year when you declare ... you will pay at least 3x more.
You keep on reverse charging if it's a business you're trading with. For individuals things have yet to be defined.
I reckon nothing will change to VAT with one exception.
Instead of VAT partially going to EU, all of it will go to Westminster, after the end of 2020. This is where Westminster can adjust it.
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One thing that has always intrigued me has been Euro as your default currency for pricing....would that change, or is it too early to say?
One thing is for certain, tax(es) will exist in one form or another... How many tax heads, percentages, and credits/passbacks will be there is unknown?
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Woo really?
We do apply MOSS, though our accountant didn't know anything about it. I had to get him all the information...
We pay VAT MOSS quarterly.
Not in that case, as @AnthonySmith mentioned it'll take a year?
Yep we do reverse charing. Wondering if it'll change in a year.
Wuu, Westminster??
UK uses GBP, so they're fine as it is tho.
If they were using EURO, that'd be a whole different story.
Westminster is where Britain's parliament is.
Think of it as Washington D.C. of USA.
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I only know Vat69 and Kate Moss.
VAT Moss seems like something undesirable. Like Hydrogen Peroxide.
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It shouldn't. Whether you do business with the UK, the USA or even Spain, it's all the same. Reverse charging basically means you give jack shit about how the client pays for his taxes, you're essentially waiving your own liability to do so because you export your service or goods.
Oooooooo makes sense now that I know what that is...
Kate Moss is awesome.
Correct, but MOSS is dedicated to our market (hosting), telecommunications, etc. So it's a different regime.
As for reverse charge, well, no VAT for USA even for their end-users. Spain, VAT for the end-user, reverse charge for valid VAT numbers (companies).
Damn, EU is a mess.
I agree one thing about Brexit.
It is that EU is undemocratic.
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>
not so easy ... i will give you a true exemple (my personal one) :
i have buy last year like 1000 servers from USA and was all shipping and imported via UK for less tax , with.. let say a round number 100 eur/server. So total bill 100k correct ? i mean withowt VAT. Now , i do not sell this servers durring the next 3 years so no vat applayed in this case is for business use. So my final cost is only 100k because after 3 years the law in romania is permit to destroy this servers because is too old. In this case we have avoid extracharge of 21k in VAT. NOW if is quit EU finnaly the vat will be charged in UK and our guvern is not pay back any vat in the last years , delay delay delay. SO NO WILL NOT BE THE SAME.
Not as undesirable as potassium chloride perhaps..
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Pretty sure the EU never collected/received VAT...and VAT goes to the Exchequer not Westminster...
So we’re in the business of creating two (or three?) same threads in each of the forums now ?
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Sorry. I did that as I want different opinions. 3 forums right now, trying to pay attention to all of those.
You know what they say; threesome is the best some.
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vat about VAT?
I bench YABS 24/7/365 unless it's a leap year.
Crossposting has never been considered as a cool move in the Internet world.
Amitz, a very stable genius (it's true!) and Grand Rectumfier of the official LESLOS® (LES League of Shitposters).
Certified braindead since 1974 and still perfectly happy.
What about shitposting?
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Same with shitposting. Still, we all do both from time to time.
Amitz, a very stable genius (it's true!) and Grand Rectumfier of the official LESLOS® (LES League of Shitposters).
Certified braindead since 1974 and still perfectly happy.
Sorry I try to keep everyone happy
That never works out. You should know that by now... It's a sign of character not trying to keep everyone happy.
Amitz, a very stable genius (it's true!) and Grand Rectumfier of the official LESLOS® (LES League of Shitposters).
Certified braindead since 1974 and still perfectly happy.
42.
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Amitz, a very stable genius (it's true!) and Grand Rectumfier of the official LESLOS® (LES League of Shitposters).
Certified braindead since 1974 and still perfectly happy.
That is virtualizors next error message right there.
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I kinda get the impression you're no Virtualizor fanboy ...