News – 10.04.24
Form PF: Are you up to speed with the latest developments?
Through this insight we will bring to your attention the main changes in a bitesize manner so that you can stay abreast of the requirements as they may apply to your firm. … Read more
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Tax relief on heritage assets: Am I eligible?
For assets considered to be of national heritage, relief from Capital Gains Tax and Inheritance Tax is available. … Read more
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Governance code updates and advice for Further Education colleges from Buzzacott and the ESFA
Join Buzzacott and the ESFA for a governance update for further education colleges … Read more
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Currently, UK businesses trading in other EU countries are not required to appoint a fiscal representative to assist with managing their VAT registrations. However, when the UK leaves the EU on 31 December 2020, this will no longer be the case and many UK businesses will have an obligation to appoint a fiscal representative to carry on trading in lots of EU countries.
A fiscal representative is a local entity that represents foreign traders for VAT purposes, usually in countries where the traders must VAT register but cannot do so by themselves. This is particularly relevant where goods exported by foreign traders are imported into foreign countries, as this usually gives the trader an immediate obligation to VAT register and account for VAT on their transactions.
Currently, UK businesses trading in other EU countries are not required to appoint a fiscal representative to assist with managing their VAT registrations. However, when the UK leaves the EU on 31 December 2020, this will no longer be the case and many UK businesses will have an obligation to appoint a fiscal representative to carry on trading in lots of EU countries.
A fiscal representative is a local entity that represents foreign traders for VAT purposes, usually in countries where the traders must VAT register but cannot do so by themselves. This is particularly relevant where goods exported by foreign traders are imported into foreign countries, as this usually gives the trader an immediate obligation to VAT register and account for VAT on their transactions.
A fiscal representative is currently a requirement for non-EU businesses trading in some EU countries. The table below outlines which countries require a fiscal representative. As UK businesses will be considered non-EU businesses from 1 January 2021, this table will likely apply to them from this date.
Country | Required |
Austria | Yes |
Belgium | Yes |
Bulgaria | Yes |
Croatia | Yes |
Cyprus | Yes |
Czech Republic | No |
Denmark | Yes |
Estonia | Optional |
Finland | Yes |
France | No |
Germany | Optional |
Greece | Yes |
Hungary | Yes |
Ireland | No |
Italy | Yes |
Latvia | Optional |
Lithuania | Yes |
Luxembourg | Optional |
Malta | Optional |
Netherlands | Optional |
Poland | Yes |
Portugal | Yes |
Romania | Yes |
Slovakia | No |
Slovenia | Yes |
Spain | Yes |
Sweden | Yes |
With Brexit fast approaching, we encourage UK businesses to review their VAT registrations in all other EU countries and take steps to engage a fiscal representative where required. If you’re not sure whether you require a fiscal representative, please get in touch and a member of our team will assist you with any changes required.
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