Earlier quoted context omitted.
How do you know to target me?
Yeah man, ninjas don't pay taxes, sure. Have fun.
No, rich people won't pay this tax. Because they have that much to lose.
“I’m in the US – what if I just ignore the EU VAT changes?”
181–182 of 182 posts
Re: “I’m in the US – what if I just ignore the EU VAT changes?”
#182Earlier quoted context omitted.
No, VAT MOSS Return periods are calendar quarters, so you need to submit quarterly statements: https://www.gov.uk/government/publications/revenue-and-custo... This has nothing to do with income. This is because anyone who supplies digital services to other EU countries is considered a business. Registering with a couple of government bureaucracies (as an aside, let's see how well they can handle about a million new r…
I got the annual thing from here, I got it a bit wrong as the threshold is turnover, not income - https://www.gov.uk/vat-annual-accounting-scheme/overview VAT Annual Accounting Scheme You can join the scheme if your estimated VAT taxable turnover is £1.35 million or less.
I see. This is a scheme you can apply for once you are VAT registered and are up to date with your VAT returns. I'm not sure how that changes things for first-time VAT registered businesses. For businesses that have not been registered for 12 months or more (i.e. everyone who is applying for the first time), they can still apply but HMRC will advise the amount of the instalments to be paid (monthly by default, quarterly also available) which are usually supposed to be estimated based on the last year's liability. I'd be curious to see how HMRC will react to getting applications for the VAT Annual Accounting Scheme from all the first-time VAT registrants with very little to base their VAT estimates on, but that wouldn't happen unless all these self-employed people had any idea that the scheme existed.