Hi,
that sounds a bit drastic I know, but it's one of the options
that myself and many other EU based digital marketers are
considering...
Why?
Simple, the mess (imho) that is the new VAT rules coming in from Jan 1st 2015.
here's the HM Revenue & Customs official page explaining the new changes:
https://www.gov.uk/government/publications/vat-supplying-digital-services-and-the-vat-mini-one-stop-shop/vat-supplying-digital-services-and-the-vat-mini-one-stop-shop
and then there's a video from them on YouTube to help make it all clearer (cough!):
https://www.youtube.com/watch?v=cZdDIVNaL18
But you can get a better idea of the furore it's causing from an article in the Guardian Newspaper today:
http://www.theguardian.com/small-business-network/2014/nov/25/new-eu-vat-regulations-threaten-micro-businesses
and there's some more great info and feedback on it here:
http://rachelandrew.github.io/eu-vat/
I'm
not giving you any advice on what to do if this effects you, as I'm not
an accountant or a tax lawyer, and both the accountants I've talked to
about this so far are more than a little hesitant as to what advice to
give... :-O
Now here's a really interesting bit, apparently any
company selling digital products to customers in the EU should also be
charging VAT and accounting for it, since 2002/2003, it just seems that
hasn't been enforced, as yet...
If you sell digital products from the UK you may want to sign this VAT petition -
https://www.change.org/p/vince-cable-mp-uphold-the-vat-exemption-threshold-for-businesses-supplying-digital-products
ok,
that's the irksome bit over with, I will keep you up to date on this
one as I find out more about it, but in the meantime....
>>>>
REMINDER: The awesome P1 Video Magnet automated niche site & video
marketing software offer closes at midnight tonight...
here's the direct link: ~> http://alink.co/p1
and
I've done a full video review of this one for you so that you can take a
look around inside and see what this software is really capable of,
watch it here before it's gone:
http://www.profitmarketer.com/blog/p1-video-magnet-review/
Again, I'm not an accountant or VAT expert, but I have been told by a VAT man during a VAT inspection a few years ago that Affiliate Commissions from promoting other peoples digital products are not subject to VAT, so software like P1 VM keeps you clear of the potenital headaches... ;-)
Always seek advice from an expert when it comes to VAT and accounting stuff!
|
| Kind regards,
Matt Garrett & Gary Prendergast
Profit Marketer
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