VATMOSS – Are you ready
So are you ready for VATMOSS – or are you still wondering what it means?
Well, let me help you.
From 1st January 2015 selling digital services to customers in the EU just gets a whole load more complicated. Because from 1st January 2015 you will have to charge VAT at the rate that applies in the country of the consumer. AND you will have to adopt their invoice rules – so you may need to add extra information to the invoices.
So why do we call it VATMOSS and not something else?
Well VATMOSS stands for VAT Mini-One-Stop-Shop. To overcome one of the hurdles HMRC have set up a single place online to register for all the countries you sell into.
This doesn’t help you to get your invoicing system ready but it is a small acknowledgement of the complexity involved.
If you think this applies to your business, and you need help, then get in touch.