SHOPIFY NEW TAX CONFIGURATION

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Hi I am based in the UK.
I am not currently VAT registered.
As such I cannot add VAT @the current rate of VAT 20% to any sales.
If I did it would be breaking the law.
If I sell in the UK it is without VAT on my transactions
If I sell outside the UK then the goods are an export which is VAT exempt anyway.
Note THE UK left the EU on 31st JANUARY 2020.
From 31December 2020 the transition period under EU rules expires.
If I export to the EU it is without VAT. 
I can register but am not obliged to if turnover is under £85,00 gbp per annum
For the 2020/21 tax year, the VAT registration threshold is set at £85,000 GBP turnover, 
but can change each year. It's calculated on a rolling basis, so you need to monitor your taxable turnover for a rolling 12 month period, 
not just in the current tax year, your last financial year or the calendar year.
IF I EXPORT TO THE USA, Canada, etc or any country outside the EEA/EU  then that export is currently zero VAT rated. No VAT applies.
This may change re the EU with any Brexit agreement but as it stands Not being VAT registered I cant charge VAT anyway and there is no VAT on EXPORTS outside the UK.
IF you are VAT registered the rules are different.
SO.....
I am hoping SHOPIFY have taken all this into account in your new tax configurations or it'll be an almighty mess.
I hope the above helps!
I look forward to hearing from you all!
Kind regards
 
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