What are the Cross Border VAT Changes?
As of 1 January 2010 it will be a legislative requirement for a UK VAT registered business to declare any intra-EC services that they supply to a VAT registered customer in the EC on the EC Sales List (ESL – VAT 101 form). The EU Legislation changes affect the following businesses:
· UK businesses that supply services to EU member countries are now required to submit details of the service on the EC Sales List
· UK businesses that receive services from EU member countries will need to account for the service and update their VAT Return using the rules of the new legislation (Reverse Charge)
· UK businesses required to submit ESL (EC Sales Lists) must agree with HMRC whether they need to commit returns for Services on a monthly or quarterly basis
If any of the above circumstances apply to your business, see the relevant section below to see how you are affected;
Opera II & Opera II SQL
Opera for Windows
You will need to upgrade your to Opera for Windows system to version 3.71 or ABOVE.
Capital Gold Accounts
You will need to upgrade your Capital Gold Accounts system to version 3.61 or ABOVE.
For full details of the Cross Border Changes, please refer to the HMRC website – http://www.hmrc.gov.uk/VAT/ec-sales-lists.pdf
|For further information please contact
our Pegasus Team !!