The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The European Commission introduced the EORI scheme witheffect from 1 July 2009 in order to enable the security measures introduced by the Security Amendment to be more effective.
The EORI number is a unique number that is assigned by HMRC to businesses who are VAT registered in the UK and individuals that import / export goods in the UK. The importer needs to register in one EU country in order to obtain an EORI number. The EORI number is valid throughout the EU and therefore an EU importer only needs to have one EORI number in respect of all imports of goods throughout the EU. The EORI number should be used in all communications withany EU customs authority where applicable.
The EORI number should be used in respect of goods being imported from a country outside of the EU and for goods being exported to a country outside of the EU. The EORI number should be included on the customs declaration completed in respect of the import or export of goods.
More information on EORI can be found via the following link EORI. This website also offers an e-learning course for anyone wanting to gain a better understanding of the EORI system.
Any business who is established in the EU customs territories and is involved in the import / export of goods will need an EORI number. Persons who are not registered for VAT who import and / or export goods will require an EORI number. Businesses that are only involved withproviding services do not require an EORI number.
Also, for the moment businesses that move goods across the Ireland / Northern Ireland border do not need an EORI number.
A non-EU person will need to be registered by the customs authority in the EU country where the first customs declaration is lodged or apply for a decision other than a customs declaration made for goods imported under the temporary admission
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
The basic rule is that all benefits provided to an employee by reason of their employment are taxable unless there is a specific exemption or other rule that means they are not chargeable to tax.ExemptionsThe main exemptions for employee benefits are in ITEPA 2003, ss 227–326B (Pt 4).Below is an
Normal due dateSmall companies (including marginal relief companies) are required to pay all of their corporation tax ― nine months and one day ― after the end of the chargeable accounting period.For example, where a chargeable accounting period ends on 31 December 2018, the due and payable date for
Time for paymentTwo statutory rules apply on death:•tax is ‘due’ six months after the end of the month of death and carries interest from the ‘due’ date until paidThere is a possibility of payment by instalments, but this applies to certain types of property only ― see the ‘Availability of
Expenditure of a capital nature is not allowed as a deduction when calculating trading profits. Expenditure of a revenue nature is allowable, provided there is no specific statutory rule prohibiting a deduction and the expenditure also satisfies the wholly and exclusively test. See the Wholly and
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.