Liam Dushynsky of PKF Francis Clark outlines the VAT and customs considerations that the UK will face after the transition out of the EU, including who will pay import taxes, how much they will be, and when they will be due.
There have been many developments as the preparation for the movement of goods from 1 January 2021 continues. And fundamental changes are still being announced often.
Anybody trying to complete the Brexit puzzle has three different pictures to look at. Europe has what it believes it should look like, the UK Government has its view, and the rest of us have a muddied combination of both. The continuing negotiations mean it has been difficult for the UK Government to issue clear guidance explaining exactly how everything will work, because much is still on the table and up for negotiation.
Continue reading
This content is not freely available. To access 'International trading post-Brexit' you need to be one of the following:
ACA student
This content is available to ACA students. If you want to start the ACA qualification there are several routes you can take
Business and Finance Professional
An internationally recognised designation and professional status from the ICAEW.
ICAEW member
Gain access to world-leading information resources, guidance and local networks. 98% of the best global brands rely on ICAEW chartered accountants.
Tax Faculty
Expert guidance and a wealth of technical and practical resources and support you can trust to keep you on top of tax.
