VAT News

HMRC change in process for Online Marketplace Traders - Direct VAT Assessments from September


The Chartered Institute of Tax (CIOT) has issued a useful note to alert both affected businesses and their Tax Agents of a step change in the process of managing VAT compliance in this area. Where HMRC would have issued requests for more information in cases where they feel that a VAT inaccuracy may have arisen in the records of an online marketplace business, they will - from September – start to issue direct VAT assessments for the VAT they consider at risk rather than issuing requests for information from the tax payer.

As businesses in this sector or as their business advisors, you will need to recognise that a VAT Assessment has a 30 day appeal time attached to it and therefore vigilance and prompt action will be required from September should you be in receipt of such VAT assessments.


For the avoidance of doubt, the content recorded in this news article does not constitute formal advice and we do not guarantee the accuracy of any information provided at the time of reading. It is always recommended that you seek professional advice before acting on any of the news articles or information included.

We are part of the Xeinadin Group. The firm of the future!