VAT & Tax Conference 2011

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1 VAT & Tax Conference 2011 Cross Border Transactions - What are the VAT implications Socrates Socratous Cross Border transactions What we will consider : Review place of supply of services rules Impact if you are a supplier Impact if you are a purchaser Review rules for buying or selling goods Statistical requirements for both goods and services

2 Significant changes to these rules in both 2010 and 2011 Place of supply determines where VAT should be charged There are different new general rules for B2B and B2C B2B where the customer is established B2C where the supplier is established Must establish the place of belonging of both the customer and the supplier For Businesses Business/fixed establishment Otherwise, place of residence For individuals Usual place of residence Where there is more than one place, need to consider which location is most connected with the service

3 Points to consider: Which establishment is providing the service Which establishment is consuming the service Who are the contracting parties, where are they based Where are the directors of the contracting parties located What is the address on correspondence and invoices Which establishment takes decisions and controls performance of contract B2B supplier Supplies made to a person for a relevant business purpose Person carrying out an economic activity Person registered for VAT in another EU country Evidence of business status normally VAT number, but alternative evidence accepted

4 What services are included: Services previously covered by Schedule 5 of VATA advisory, consultancy, marketing, advertising, legal services. Also supplies of staff and transfer of IPR From 1/1/ Cultural, artistic, sporting, scientific, educational, entertainment and similar services - (excluding admission ) Intermediary services What services are included: Transport of goods (including intracommunity transport of goods) Valuation and work on goods Long-term hire of means of transport Electronically supplied services by non EU suppliers to EU Business customers

5 What services are excluded : Admission fee to an event Land related services Passenger transport Restaurant and catering services Short term hire of means of transport Admission to an event From 1 Jan 2011, CASSE type services included in new general rule, but admission to an event excluded Place of supply for admission to an event is where the event takes place. Practical problems in determining what is admission and what is an event

6 For example SOC prepares a bespoke VAT training course for an overseas client. There is a single fee for preparing and presenting the course. This is a supply of training/education, hence the place of supply is where the customer belongs SOC organises a general VAT training course and charges a fee to businesses to attend This is a supply of admission to an event, hence the place of supply is where the event takes place Statistical requirements If services are supplied to EU customer, whose place of supply is where customer belongs must complete EC Sales list Must quote customers VAT number on sales invoice Need to include statement on sales invoice that the supply is subject to the reverse charge

7 B2B Purchaser General rule (subject to some exceptions), place of supply of services is where the customer belongs Therefore if UK entity receives services from an overseas supplier no VAT on invoice, but must consider the reverse charge Applies to a relevant business person which includes a charity reverse charge Customer charges itself standard rate VAT on the value of the supply Includes the VAT in Boxes 1 and 3 Recovery in Box 4 subject to use of the services and VAT recovery method Could result in additional cost for charities Prior to 1 Jan HMRC only applied reverse charge to business activities What about charities not VAT registered?

8 Practical issues How does accounting system identify these purchases? Foreign currency invoices, address of supplier, cost centre coding Staff may not realise hidden VAT cost Applies even if used for non business activities B2C The place of supply is where the supplier belongs, hence if in the UK entity VAT will apply regardless of location of customer. If overseas customer, transaction is not recorded on EC Sales List Exceptions still apply. Therefore may need to consider obligation to register overseas

9 B2C For example UK architect supplies services to private individual in the UK in relation to a building located in France The place of supply is where the land is situated No UK VAT charge, however UK architect must consider whether there is an obligation to register for VAT in France Place of supply of Goods Goods dispatched from UK B2B EC Supply will be outside the scope of UK VAT Must show customer EC VAT number on sales invoice Must have commercial evidence of dispatch Value of sales included in Boxes 6 & 8 Will need to complete EC Sales List If value of supply above 250k must also complete an intrastat declaration

10 Place of supply of Goods Goods dispatched from UK B2C EC Supply will be subject to UK VAT However, once sales to consumers in another EC country exceeds specific turnover limits, may need to register in that country Effect of registration is that local VAT becomes due In practice UK Business supplies EC Business which then make local supplies Turnover threshold - 35k or 100k Place of supply of Goods Goods exported from UK B2B & B2C Non EC Supply will be zero rated Must have evidence of export Official evidence produced by HMRC Commercial evidence produced by freight forwarder Commercial evidence will vary depending on mode of transport If evidence of export not available, HMRC can treat as standard rated supply

11 Place of supply of Goods Goods acquired from EC B2B Supplier will not charge overseas, provided he has UK VAT number of customer UK Customer must account for Acquisition tax in Box 2 of VAT return Recovery in Box 4 subject to use of the goods and VAT recovery method Could result in additional cost for charity Place of supply of Goods Goods acquired from Non EC B2B Supplier will not charge overseas UK Customer must pay import VAT HMRC will issue C79 as evidence to support claim to input tax Recovery of VAT subject to use of the goods and VAT recovery method In addition there may be Customs duty payable which cannot be reclaimed

12 Socrates Socratous Director Tel: Website:

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