Latest HMRC Brexit Info

by | Feb 12, 2020 | General News | 0 comments

Brexit preparedness remains a big concern for the UK’s businesses. Perhaps the two areas that need most attention are customs formalities (importing and exporting goods or services), and intra-community VAT (invoicing businesses in other European Union member states).

Both these areas will probably change once the UK leaves the EU. There may be long-term adaptations for any business that have to be put into place, and short-term mitigations to be made to overcome issues presented by a no-deal Brexit scenario.

Much of what needs to be understood has already been documented by both the government and the EU. We summarise much of this below, but this cannot be a replacement for consulting official sources and seeking professional advice yourself.

Both VAT and customs formalities are complicated landscapes to navigate, with a large quantity of obscure yet vital detail.