United Kingdom Tax Agency Updates VAT Notice on Registration Requirements

The United Kingdom HM Revenue and Customs April 4 updated VAT Notice 700/1, on VAT registration requirements. The updates: 1) add information on when and how non-established taxable persons (NETPs), including overseas seller NETPs, need to register for VAT, and penalties for noncompliance; 2) remove information on when NETPs can register voluntarily; 3) amend information on the use of Making Tax Digital, for keeping digital records; 4) add information on penalties for failing to advise the Tax Agency of liability for registration; and 5) reflect the new annual 10,000 euros (US$10,813) EU registration threshold, for distance selling into EU member ...