The ‘Import One Stop Shop’ (IOSS) scheme will go live on the 1st July 2021, and it’s aim it to facilitate and simplify movements of individual goods that don’t exceed €150 (£135) to B2C consumers.
These changes will affect businesses who are selling goods to customers located in the EU, and items imported to the EU with a value of €22 or less will no longer be exempt from VAT.
This means goods that are sent directly from a UK company to consumers in the EU, will be subject to the local rate of VAT in the customer’s country.
Kirsty Buckland
Director of Accounting
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