Brexit preparations for VAT registered businesses

1st March 2019 by Robert Leggett

With Brexit nearly upon us on 29 March (probably!), there remains huge uncertainty on its impact, and it is essential that any traders or businesses which may be affected by changes in VAT procedures act now to ensure a smooth transition.

This applies especially for VAT registered businesses which are trading with the rest of the EU, and such businesses need to consider the following actions:-

If goods are moved in or out of the EU

  • Getting an EORI number
  • Registering for simplified import procedures

If electronic services are supplied into the EU

  • Registering for non-Union MOSS in an EU member state
    If goods are supplied to consumers in the EU under distance selling rules
  • Are VAT registrations required in other EU countries?

If VAT is paid in other EU member states

  • Claims for 2018 refunds must be submitted before 29 March 2019
  • How will this VAT be claimed after Brexit?

HMRC continues to update its guidance on how to do all of this, which can be viewed here.

If you need assistance, then please speak to your normal Ensors contact or send us an enquiry.

For information on how to enrol your VAT registered business for Making Tax Digital (MTD) please click here

Author

Robert Leggett

Robert Leggett

Partner
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