Be prepared for VAT changes in 2015
HMRC have recently published some additional guidance on the 1 January 2015 VAT changes. With 233 working days to go affected businesses in the E-commerce, telecommunications and broadcasting sectors should be forging ahead with addressing the complex changes needed to the IT and accounting systems as well as customer-facing issues.
The more savvy business will be looking to see how the changes can be used for competitive advantage. Margins can be tight in the e-commerce arena and the margins in different territories could be under more or less pressure in the different countries as a result of the changed pricing imposed by the VAT rule changes. Being ahead of the game will avoid pitfalls and VAT distractions, penalty assessments and related costs, all of which will assist profitability.
For more on the challenges and opportunities that 1 January 2015 represents see our website:
If you think you may be affected and wish to discuss this matter with our VAT specialists, please contact Richard Collier on:
020 7236 2601;01727 869 141; or 01908 605 552
Date: 29th January, 2014
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