Five things you need to know about tax, 11 June 2021

In Irish tax developments, Revenue reminds online shoppers of new VAT rules for goods arriving in Ireland from non-EU countries and how this might bring additional charges. There is also advice for businesses on claiming their Covid Restriction Support Scheme (CRSS) enhanced restart week payment. On the UK front, there is good news for members in the UK and NI as HMRC say tax agents can expect more swift service on the agent dedicated line from Monday 14 June. While in international tax, G7 Finance Ministers reach agreement on a global minimum corporation tax rate of at least 15 percent.  

     Ireland

1. Consumers may face additional VAT charges when buying goods online from suppliers outside the EU as new VAT rules come into effect on 1 July 2021;
2. Businesses are advised to carefully consider the timing of their claim for the CRSS enhanced restart week payment;

   UK

3. In a meeting this week, HMRC advised Chartered Accountants Ireland that from Monday 14 June, priority access to the agent dedicated phone line is restored and calls should be answered within 10 minutes. Monday’s edition of Chartered Accountants Tax News will cover this in more detail;
4. Read the latest updates on the HMRC administered COVID-19 supports;

   International

5. The two Pillar global solution tackling the tax challenges arising from the digitalisation of the global economy were agreed by the G7 Finance Ministers last week.

Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter.