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flat rate scheme import vat Post Review

#VAT If you use the Flat Rate Scheme, you do not recover input tax or VAT on imports or acquisitions but 20% VAT on EU acquisitions is due

All the #Brexitdividends I've spotted so far:- massively increased shipping costs (few couriers are capable of getting packages into EU on any kind of schedule) (can pass this to customer = less competitive price) - sending via DDP? Any returns = massive losses of taxes paid

- UK importers from EU used to Flat Rate Scheme VAT now paying massively more VAT due to VAT on EU imports, which renders FRS useless (can attempt to pass to customer = less competitive) - already seen EU customers wary of import charges = less sales#VAT #flatratescheme

- shipping prices have gone up by at least 33% in most cases- paperwork that is fairly simple to complete but uses mountains more ink + paper + plastic wallets(cost + waste)- EU customers that are hesitant / confused / angry about extra import charges = shit for business

- demand from EU that is still very much there but is being slowly eroded by the many customs difficulties and delays = bad for everyone involved (UK biz, EU people & gvt revenues)- redundancy of the easy / useful Flat Rate Scheme (FRS) VAT return system due to VAT on EU imports

Reason will be due to VAT levied now against the sender. These changes came on 1/1/21. They claim they aren't Brexit related, however I am dubious. EU make similar changes in July 2021. So they mirror. If normal sales / VAT/GST taxes were LESS than 20% previously, there is loss.

Aka there is a major change from being charged NATIVE VAT / GST on sales to now paying recipient country VAT. This may mean a big hike in tax for sellers.Another clusterfuck for UK Small bz is Brexit VAT on EU imports + these VAT changes means useful Flat Rate Scheme is killed.