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How can your business prepare for Brexit?


By: Rob Geary Date: 15 October 2019
Category: VAT

We’ve talked before about the importance of preparing for Brexit, and not just burying your head in the sand. In order to help businesses to do this, our VAT experts have pulled together the advice that has been published by HM Revenue and Customs (HMRC) over the last few weeks into a handy list.

If you have further questions or concerns, please contact myself or my colleague Liz and we will be able to help.

1) Check when you will need to account for import VAT on a no-deal Brexit
If your business is registered for VAT in the UK then you will be able to account for import VAT on your return, but if you are not registered you will need to account for it when you import the goods.

2) Claim VAT refunds after Brexit if you are an EU business
You will no longer be able to use the EU VAT electronic system to claim your VAT refund if you are an EU business. Instead you will need to follow the manual process for businesses outside of the UK. Make sure you are aware of the process to follow.

3) Pay VAT when you sell digital services to UK customers after Brexit
The VAT Mini one stop shop (MOSS) will no longer operate for digital sales in the UK. Instead you will need to register and pay VAT in the UK as soon as you supply digital services to a UK customer.

HMRC have also sent out the following letters to traders based on their location to give them specific advice about import and export post-Brexit:
 
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