EU forces online SMEs to
register for VAT from Jan 1st 2015
From January 1st all small business entrepreneurs
who sell
online to the EU will be forced to register
for VAT.
The new regulations were designed to take more
VAT from online giants
such as Amazon but will
now load new regulations and burdens onto small
businesses. Online microbusinesses which sell anything to EU customers will be
forced
to register for VAT even if their turnover is under the £81,000
threshold.
Margot Parker MEP, UKIP's spokesman for small business, said: "The EU,
in
its relentless desire to increase its take from VAT, is determined to
load more
VAT demands on the shoulders of British entrepreneurs.
This new Brussels tax
grab will without doubt force thousands of
micro-businesses to shut
down."
