We'll Cover:
VAT Registration
Online merchants need to register for VAT in or der to collect tax on orders under 135GBP / approximately RM794.81 (Subjected to currency exchange rate). Once registered, it is no longer under the receiver's obligation to pay for VAT upon the point of transaction.
Standard payments for VAT are at a quarterly basis, merchants can register and send their VAT returns by visiting the links below:
https://www.gov.uk/send-vat-return
EORI Changes
Beginning from 1st January 2021, an EORI (Economic Operators Registration and Identification) number will be required in order for merchants to move goods into the UK.
Merchants can apply for an EORI number within 10 minutes via this link.
If you do not have an EORI number, additional costs and delays may happen to your goods and if HM Revenue and Customs (HMRC) cannot clear the goods, merchants may have to pay for storage fees and bear return costs.