In this week’s EU exit corner, we bring you the latest guidance updates and publications relevant to EU exit. The most recent Trader Support Service bulletin is also available. HMRC has sent a further email reminder about changes to how goods are imported into Great Britain from Ireland as a result of the first phase of implementation of new import controls from 31 January 2024. And finally, HMRC has confirmed that the VAT Import One Stop Shop (“IOSS”) scheme in Northern Ireland will open for registrations from 1 March 2024.
IOSS is an optional VAT accounting scheme that VAT registered businesses can use when they import low value goods (non-excise goods with a consignment value of £135 or less) from countries outside the EU and NI, to consumers in the EU, NI, or both. HMRC has confirmed that as planned, the scheme will be available for direct registrations in NI from 1 March 2024
Last week, HMRC published guidance on the scheme and the changes on how to report VAT on sales of low value goods that are located in Great Britain at the point of sale to consumers in Northern Ireland.
Miscellaneous updated guidance etc.
Recently updated guidance, and publications relevant to EU exit are set out below: