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Don’t get bogged down in VAT & Brexit.
Trust us, we have and it wasn’t pretty!
There’s a lot going on for your business right now with the “small matter of COVID”……then to top it off the Brexit transition period is over and the impacts of the EU-UK trade deal are now in force! Boom and double boom!
There’s a lot of post-Brexit changes for businesses to make sense of and we want to make sure you’ve considered the tax points which could impact your business.
Well, to keep it as brief as possible, since the UK left the EU on 1st January, changes have been made to the way that the UK trades with the EU, as well as Great Britain trading with Northern Ireland.
Now, there are two big main changes:
We’ve produced this handy overview map and a straightforward guide of different business scenarios, highlighting what you need to consider for VAT.
It’s critical your VAT is being treated correctly and so we recommend that specialist advice is obtained.
If your business is doing any of the activities on the map, get in touch, as there could be tax implications we need to consider for your business.
At first glance, this might not look like a huge amount of change, but the rules, and nuances to consider are complex.
Without advice there’s a risk of compliance issues, which can be expensive and time consuming.
For advice implementing VAT changes in your business, please get in touch so that we can discuss your options.
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