From January 1st all small business entrepreneurs who sell online to the EU will be forced to register for VAT even if their turnover is under the £81,000 threshold. This new Brussels tax grab will without doubt force thousands of micro-businesses to shut down. For weeks now, the Treasury and Revenue have been assuring worried micro entrepreneurs that Government negotiators would secure a better deal for them in Brussels. But like all the other guarantees about negotiating a better deal, those assurances have been worthless. The regulations (meant to stop internet giants taking advantage of the tax-haven the new Commission president Jean-Claude Juncker set up in his home country of Luxembourg) will now sweep up and destroy thousands of small businesses that often operate out of the spare room of a family home, selling everything from knitting patterns to digital novels to self-help courses to apps to herbal supplements online. Worse, of course, is yet to come. The European Commission has plans to apply these demands to ALLservices as soon as 2016. All the more reason for the UK to get out of the grasping hands of the EU.
Posted on: Sun, 21 Dec 2014 14:26:16 +0000
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