Course description
This bite-sized 30-minute webinar, presented by barrister Rachel Clark, will focus on the scope of the new UK VAT rules, ‘reasonable steps’ that can be taken, and whether the new rules will help or hinder the fight against VAT fraud.
Join Rachel as she explores HMRC’s historic approach to online marketplaces, the rules, exceptions and sanctions for failure that come with the new regime, and the impact of the new rules on VAT fraud. Rachel will also provide some practical tips to implementing ‘reasonable steps’.
Rachel is a barrister and associate at Bright Line Law, and specialises in cases involving tax avoidance and tax evasion. Be sure to tune in to benefit from her knowledge in this area.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
Online marketplaces have become a playground for VAT fraudsters. In 2015-16 alone, VAT evasion by overseas sellers was estimated to have cost £1bn-1.5bn.
Since the start of 2021, online marketplaces facilitating (i) the supply of overseas consignments valued at £135 or less, or (ii) goods in the UK sold by an overseas seller, will become the deemed supplier and thus liable for VAT at the point of sale.
This means many online marketplaces will need to be on guard against VAT fraud by overseas sellers, with whom the revenue may have no direct contact. Such marketplaces will not be liable for VAT exceeding the amount paid by the customer, but only to the extent they have taken certain ‘reasonable steps’.
This webinar will focus on the scope of the new UK VAT rules, ‘reasonable steps’ that can be taken, and whether the new rules will help or hinder the fight against VAT fraud.
What You Will Learn
This webinar will cover the following:
- HMRC’s historic approach to online marketplaces
- The new regime:
- The definition of an online marketplace
- The rules
- The exceptions
- The sanctions for failure
- Practical tips - how to implement ‘reasonable steps’
- The impact of the new rules on VAT fraud
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...