The Brexit transition period ended on 31 December 2020 and the UK is no longer part of the EU. This has important and complex VAT and Customs implications for businesses trading with non-UK businesses.
New rules took effect in the UK on 1 January 2021 and further EU changes became effective from 1 July 2021. Although some time has now passed Constable VAT is still dealing with issues arising from the changes arising as a result of Brexit.
Please contact us if you have any concerns about the VAT implications of trading with the EU since 1 January 2021. Some of the points you may wish to consider are:
- The impact on cross-border transactions, including MOSS, distance selling etc;
- Are you now required to be registered in other EU countries?
- Whether the removal of the ability to rely on EU law rights will impact on your particular business;
- Whether it may be possible to restructure some transactions to lessen the impact of changes resulting from Brexit;
- Do you do business with NI and what is the VAT impact of this.
- Whether the new EU e-commerce rules, effective from 1 July 2021 have any impact on your business.
Constable VAT is happy to provide a review of your business and the implications of the rules applying to trade with the EU and can also provide training as required.
If you have a query that you cannot easily find the answer to please contact us.
To ensure you receive our updates on any changes to the UK VAT system as these are announced we highly recommend signing up for our regular free electronic newsletter service.