VAT in 2020 – post-Brexit implications

With Brexit on the verge of being finalised, at least at stage one, Alison Horner, indirect tax partner at MHA MacIntyre Hudson, looks at the impact on VAT and cross-border transactions post 31 January

Along with customs duty, VAT has been one of the most fraught issues for UK businesses in the Brexit process so far.

As no deal seems to have been avoided, they may be under the impression there will be no immediate change to VAT requirements, but this is not correct.

Both Brexit and an unrelated EU rule change designed to combat fraud mean UK businesses have to take care getting their VAT reporting right this year.

They also need to start planning for trading with the EU under the proposed framework of a Canada style free trade agreement and this involves complex VAT procedures and applications.

Leaving the Customs Union

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