Brexit and the future of Oakley Sound

[adam]

seems like it should be pretty straightforward once it's set up, you just make one lump sum payment of VAT regularly then it gets distributed to each country you've had orders from.

[Synthbuilder]

seems like it should be pretty straightforward once it's set up, you just make one lump sum payment of VAT regularly then it gets distributed to each country you've had orders from.

Yes, I think once you've got VAT registered dealing with the IOSS is probably pretty straightforward. The nice thing is that you only have to register in one EU country. The question for me, as a semi-retired self-employed person with a tiny turnover, is going VAT registered worth the hassle? I don't know yet.

Tony

[adam]

I'm not sure if the 10k euro exemption threshold for small traders applies to 3rd countries or if thats only for people in the EU - thats turnover sent to eu countries in a year, not total, they brought that in for the knitting pattern vendors

[Synthbuilder]

I'm not sure if the 10k euro exemption threshold for small traders applies to 3rd countries or if thats only for people in the EU - thats turnover sent to eu countries in a year, not total, they brought that in for the knitting pattern vendors.

Adam, what's this 10K Euro threshold?

[adam]

thats for small traders not to use this scheme but their countries VAT scheme instead, seems that the european council still has to vote on bringing this proposal into law, so if anyones unhappy with any aspect of it, they can write to them, as far as I can see it sweeps a lot of small traders up in an attempt to deal with things like multi thousand dollar consignments from china being given a value of 20c on the customs form