Food and drink industry face Brexit VAT bill

Now that the UK is in the transition period after leaving the EU, Accordance’s VAT consultant Russell Hughes unpicks the menu of obstacles facing the food and drink sector trading across borders, keeping friction down and wastage low

The UK government have made its first official announcement on what cross-border trading conditions could look like when the transitional period ends. Michael Gove, the Chancellor of the Duchy of Lancaster, has been in talks with business leaders from the Border Delivery Group and confirmed that post-Brexit trade barriers will be inevitable come 1 January 2021.

The UK government has since issued a press release which confirmed all imports and exports are to be treated equally. This will mean traders in the EU and UK will have to submit customs declarations and be liable to goods checks at the border in the same way as non-EU importers and exporters are currently required to.

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