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EU VAT OSS (One Stop Shop) Rules from July 2021
EU VAT OSS (One Stop Shop) Rules from July 2021
Daniel Little avatar
Written by Daniel Little
Updated over a week ago

We are aware of the new rules that are due to come into force in July however they do not affect anything in Link My Books.

As it stands we already separate out sales shipped to customers outside the UK.

Sales revenue is currently broken down into these 3 groups (post 31/12/2020):

Sales Shipped to UK
Sales Shipped Outside UK, Dispatched From GB
Sales Shipped Outside UK, Dispatched From outside GB

Therefore sales that are subject to VAT in the EU would be included in the 2nd and 3rd groups, depending on whether they were dispatched from GB or not.

Our default tax rate for these groups are Zero Rated Income for those dispatched from GB and No VAT for those dispatched from outside GB.

With this in mind, from a UK VAT perspective, nothing will change - these sales will continue to be Zero Rated Income or No VAT.

Then marketplaces such as Amazon, eBay and Etsy will collect, withhold and remit the relevant EU VAT on your behalf.

You should speak to your accountant or tax advisor regarding the need to register for VAT in other EU countries and about the above to ensure you follow all applicable tax laws accordingly.

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