Quote:
Originally Posted by HarryT
Companies don't have to concern themselves with VAT unless they reach the "VAT threshold" for sales within the EU, which is quite a large amount of money. Eg, a company doesn't have to register for VAT for sales into the UK unless it sells more than £70,000 (over $100,000) worth of goods in the UK each year. Small companies shouldn't, therefore, be affected.
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That has apparently changed. See here:
http://www.teleread.com/ebooks/diane...-e-book-store/
Quote:
As Duane points out via a quote from a Huffington Post article on the matter, the new regulation—and its removal of the minimum threshold at which UK businesses need to worry about VAT—is going to hit many UK small businesses particularly hard. Especially vulnerable are the small startups being run by stay-at-home parents as a way to contribute to the family pocketbook. Not only does the vast amount of recordkeeping required pose an incredible expense to small businesses that might be only pulling down a few quid a month in their early stages, the record-keeping requirements for purchases made while traveling are a self-contradictory mess.
Duane writes that she and her husband Peter Morwood are going to have to take a long hard look at the regulations and figure out if they should simply stop selling into the UK and EU countries, or whether they can even continue running their e-book store at all.
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And here:
http://techcrunch.com/2014/11/25/eus...-for-startups/