New Simplified VAT Guidance for Foreign Sellers Shipping Goods to the UK Released by HMRC
HMRC has released new simplified VAT guidance for overseas sellers in a bid to support Chinese retailers who sell goods online in the UK.
The guidance "Selling goods using an online marketplace or direct to customers in the UK" has been translated into simplified Mandarin, to help sellers exporting goods from China to adhere to UK import and VAT regulations.
The guidance provides detailed information on when and how VAT and import duties should be charged to customers by international sellers, as well as different processes for direct-to-customer sales and online marketplaces.
The updated guidance is the result of detailed consultation and research with overseas sellers, bringing together all relevant guidance in one place on GOV.UK.
By making the process easier to understand, it is expected to increase tax compliance levels for online sellers and help HMRC reduce the tax gap.
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