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  • Re: Should I register for Self Assessment?

    Hi,

    You can find guidance regarding trading in cryptoassets and tax treatment here:

    Cryptoassets: tax for individuals

    If you have further questions, please contact us to speak to an adviser:

    Self Assessment: general enquiries

    Thank you.
  • Re: Self Assessment for several roles

    Hi,

    When you are in the tailor your return section and answer yes to the self employment question, you will then say that you had 2 self employments. You then keep both details separate and enter in each section which comes up later.

    If you then take up employment also, you will add in an employment section in your relevant return. 

    Thank you.
  • Re: Where to record cash basis expenses

    Hi,

    Basically when you are using cash basis you cannot claim for anything under capital allowances, except for capital expenditure on a car.  

    Everything else which is allowable will be claimed in the normal expenses section of the self employment pages.  

    You should always enter your total income and then the amount of the allowable expenses, this will then deduct this amount from your income leaving you with a profit, or loss. 

    Thank you.
  • Re: How to claim Foreign Tax Credit Relief on income 2019-20?

    Hi,

    When you have income from employment in another country, this is regarded as employment income and must be recorded in the employment section.  

    In tailor your return where it asks if you were an employee, you say yes. In the employment section you enter only the amount of income earned in Greece, no tax, reference 000/none and the name of the employer.  

    You are then using the foreign section to claim tax credit relief against the amount of income already taxed.  

    If you add the employment section in and enter the details as stated, you will then be able to save and move on. 

    Thank you.
  • Re: Working Remotely from another country

    Hi,

    If you are living in Spain and working for the UK employer from Spain, then you will need to complete a P85 to tell HMRC when you left and became tax resident in Spain, so we stop taxing you in the UK.

    Get your Income Tax right if you're leaving the UK

    Thank you.
  • Re: Export from UK into Ireland - Non-transit

    Hi,

    Making a ‘non-transit’ (standard) export declaration from GB to the ROI from 01/01/2021 will be possible.

    However, the second part of your enquiry concerns import and clearance procedures in the ROI, and is therefore not something HMRC can provide advice on.

    You are respectfully advised to contact the customs authority in the ROI for guidance in this respect.

    Thank you.
  • Re: New rules for call-off stock arrangements after Brexit?

    Hi,

    We confirm that the EU call-off stock arrangements will end on 31 December 2020.
      
    Any business that imports goods into the UK following the end of the transition period must be registered for UK VAT to make a domestic supply, and to be able to recover any VAT.   

    From 1 January 2021, if your business is registered for VAT in the UK, you’ll be able to account for import VAT on your VAT Return for goods you import into:   
    • Great Britain (England, Scotland and Wales) from anywhere outside the UK  
    • Northern Ireland from outside the UK and EU  
    From 1 Jan 2021, UK VAT registered businesses that currently import goods from anywhere in the world will be able to use PVA. This means that in most cases these businesses will be able to simultaneously declare and recover import VAT on their VAT returns (as they do now in respect of imports of goods, known as ‘acquisitions’, from EU countries), rather than paying import VAT at, or soon after, the time that the goods arrive at the UK border.  

    Goods already in GB at the end of the Transition Period will continue to be subject to the current call-off stocks and consignment rules in place. These will continue to apply until the stock is called off/purchased within 12 months of the end of the transition period, or leaves GB.

    Thank you.
     
  • Re: FOREIGN COMPANY BASED IN EU IMPORTING GOODS INTO THE UK

    Hi,

    The customs value of the import will be all costs up to the place of introduction to the UK. This is the selling price less any potential UK import taxes and transport costs in the UK. For customs valuation purposes the actual ownership of the goods is not a factor.

    Post transition the UK continues to operate under WTO valuation rules as does the EU.

    Public notice 252 gives more guidance on valuation rules for customs purposes:

    Notice 252: valuation of imported goods for customs purposes, VAT and trade statistics

    Thank you.
     
  • Re: Distance selling to the UK after Brexit

    Hi,

    From 1 January 2021, the VAT treatment of B2B imports of goods in consignments not exceeding £135 in value will change. 

    For imports of goods into GB from outside the UK, these changes will result in supply VAT being due instead of import VAT. The VAT accounting treatment for business to business sales of goods imported in consignments not exceeding £135 in value will be subject to supply VAT. Where the business customer is VAT registered in the UK and provides its valid VAT registration number to the seller or the online marketplace, the VAT will be accounted for by the business customer on its VAT return by means of a reverse charge. The business will be able to recover that VAT as input tax, subject to the normal VAT recovery rules on the same VAT return. The changes will not apply to consignments of goods containing excise goods or to non- commercial transactions between private individuals. Existing rules will continue to apply for these transactions.

    However, for imports of goods into Northern Ireland from outside the UK or EU in consignments not exceeding £135 in value, VAT registered businesses must use Postponed VAT Accounting (PVA). Where a business customer provides its valid VAT number to the supplier or the online marketplace, the business will have to ensure that they select the option to use PVA when submitting their customs declaration. The UK recipient business will account for the import VAT on their VAT return and will be able to recover that VAT as input tax, subject to the normal VAT recovery rules on the same VAT return.

    For imports of goods in consignments exceeding £135 in value a businesses registered for VAT in the UK will be able to account for import VAT using PVA on its VAT return for goods they import into:
    • Great Britain from anywhere outside the UK 
    • Northern Ireland from outside the UK and EU
    There will be no changes to the treatment of VAT for the movement of goods between Northern Ireland and the EU.

    Businesses do not need any approval to account for import VAT using PVA on their VAT return. Businesses can select that they will be accounting for import VAT on their VAT return and will need to provide their EORI number and VAT registration number when completing their customs declaration.

    Thank you.
     
  • Re: New safety checks at the border

    Hi,

    From January 2021, traders moving controlled goods must submit a full customs declaration (or may use Simplified Customs Declaration
    Procedures if they are authorised to do so). Traders must use the customs process currently applicable at the location that they are using to move their goods, as well as ensure any specific licencing requirements are fulfilled. 

    From January to July 2021, traders moving non-controlled goods will have two options for submitting customs declarations for importing:
    1. Use Delayed Declarations - keep records of the imported goods but delay the declaration to HMRC for up to six months from the point of import.
    2. Use existing customs processes to complete a full customs declaration at point of entry to GB (or use Simplified Customs Declaration Procedures if authorised to do so)
    You can find further guidance here:

    Ongoing customs movements and procedures at the end of the transition period

    Thank you.