20 November
By Chris Gumbley
Categories: Government/Business/HMRC/Industry News/Brexit

VAT Implications of Brexit – and possible changes to Customs Duties Factsheet

VAT Implications of Brexit – and possible changes to Customs Duties Factsheet

Many businesses who do trade with the EU are no doubt watching the Brexit negotiations closely at present. Although not all the details have yet been finalised, the UK’s departure from the EU will result in significant changes to existing VAT rules from 1 January 2021, and there may also be additional charges to duties and tariffs.

From 1 January 2021, there will be new rules for trade, travel and living in the UK. The actions people and business owners need to take vary based on their circumstances.

We are urging all our clients to carefully review the potential impact of Brexit on their extended supply chain as soon as possible. A thorough assessment needs to take place regardless of whether you import yourself or not,  as when you consider further down the line most businesses will have some element of imported goods in their supply chain.

Many businesses who do trade with the EU are no doubt watching the Brexit negotiations closely at present. Although not all the details have yet been finalised, the UK’s departure from the EU will result in significant changes to existing VAT rules from 1 January 2021, and there may also be additional charges to duties and tariffs.

The team at Naylor Wintersgill are here to provide you with information and resources to help all our clients manage the change as smoothly as possible. With this in mind, we have created a handy factsheet to help you navigate the UK VAT implications of Brexit and possible changes to Customs Duties.

Download our UK VAT Implications of Brexit Factsheet Here

The changes are complex, and this factsheet only provides a summary of the likely changes. Please ensure that you get in touch with a member of the Naylor Wintersgill team to discuss your own specific circumstances and to obtain more detailed information.

We are here to help

Remember, please do not hesitate to get in on 01274 733184 or via hello@naylorwintersgill.co.uk if you require any assistance.