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26 July 2021

EU VAT changes from 1 July 2021

Following on from the 1 July EU VAT changes, is it worthwhile supplying books direct to customers in the EU? Some publishers have already decided it is not due to the additional financial costs and administrative burden. See Indies 'furious' as post-Brexit VAT regulations make EU delivery unaffordable by Ruth Comerford in The Bookseller 30 June 2021.

There is a lot of general guidance available online but little practical guidance or advice on whether it is worth it for a small business.

 

Here are some resources you may find useful:

Trading with the EU for small businesses: Business Gateway 28 July 2021
This free webinar takes place from 10 am to 12 noon. Register here.

 

Many accountants and tax advisers have general information on their websites including:

 

Postal and courier services information examples

 

Magazines

InPublishing website reports that Newsstand, an online magazine retailer, has rolled out a turn-key solution to dissipate publisher's VAT headaches and ensure compliance. In this article it mentions that the costs of setting up IOSS can be more than £2,000 in the first year while the Newsstand scheme costs £150. See Newsstand solves EU VAT processes for magazine publishers' online sales 17 June 2021.

 

Booksellers

The London Book Fair Conference also heard about EU booksellers' difficulties getting books from UK publishers. See Brexit delays and high prices a 'disaster' for booksellers, LBF hears by Ruth Comerford in The Bookseller 23 June 2021.