UKFT Guide to the new EU Import One Stop Shop (IOSS)
From 1st July, 2021, there are new rules to govern how UK sellers to EU consumers (not companies) must collect and pay EU27 VAT at the EU country rate on all goods sent to the EU. UKFT has created a guide for members on how the new Import One Stop Shop will work for UK fashion and textile businesses.
The EU Import IOSS is available to assist UK companies where they are selling goods to EU consumers for a value of up to €150 (including VAT) and where customs duty or excise is not payable.
EU based companies, or UK companies with an officially registered EU company and EU warehousing, will be able to use the separate EU member state One Stop Shop (OSS).
UK companies selling through an EU based Marketplace are likely to find that their EU Marketplace will handle the VAT on their EU OSS account.
The previous exemption for Import VAT on goods valued below €22 has been removed from 1st July.
N.B. The Import One Stop Shop (IOSS) and the One Stop Shop (OSS) are two different but similar schemes.
The guide covers:
- How it will work
- What UK suppliers will be expected to do
- Benefits of using IOSS
- How it works with fast parcel operators
- Selling through marketplaces such as Amazon, Ebay and Zalando
- Selling between Northern Ireland and the EU
- Registering for IOSS in Eire
- Outstanding questions which still need to be answered
UKFT Brexit Guidance for the UK fashion and textile industry
UKFT has been working very closely with the UK government during all the negotiations with the EU. We know and understand how the UK-EU TCA will impact on UK fashion and textile businesses and we can help and advise companies on how to develop new strategies to ensure they can continue to trade successfully with the EU and the rest of the world.