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Sudden change in VAT regulation for telecoms services

Are you are a  wholesaler of telecoms services, no matter how small?

If the answer is yes, then  this sudden change in the VAT treatment of purchases you make from other businesses across international borders will affect you.

Please open the attached link below for detail on the change: http://www.accountingweb.co.uk/article/vat-reverses-telecoms-services/596015

Basically, the wholesale buyer of the telecoms services, who sells on the service with little or no consumption, will have to apply standard rate VAT to their purchases and to their sales and will therefore need to register for VAT.

If you would like to talk more about how this might affect you,  please call me or drop me an email.