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Online marketplaces such as Amazon eBay and Etsy should be liable for VAT collection and remittance in the UK says the Association of Accounting Technicians. Some countries including Australia the US and New Zealand have already adopted this practice.
An EU regulation requiring these actions will come into force in January 2021 – when the UK will no longer be in the EU – but will apply only to transactions below €150.
The government introduced new rules in 2016 as a result of which some 80 000 new firms registered for VAT. However there is little information about how many of these businesses have since submitted tax returns or paid the correct VAT.
Adam Harper AAT director of strategy and professional standards said: ‘The government must stop relying on the changes it introduced in 2016; realise the need to take more effective...
