VAT news tagged as "Brexit"

United Kingdom

UK Brexit Taxation Bill leaves businesses at risk

February 4th, 2018

On January 8 2018, the legislation setting the UK’s post-Brexit customs and VAT regimes passed its second reading in the House of Commons. The preliminary statute prepares the country to take full governorship of its customs and VAT regimes from 30 March 2019, when the UK is scheduled to depart the European Union (EU). Since …

United Kingdom

UK Brexit planning Authorised Economic Operator AEO

January 15th, 2018

UK businesses with large international supply chains risk huge delays for their goods crossing EU borders after 2019’s Brexit. However, so far only 608 UK businesses have considered a major mitigation of this customs clearance risk – applying for Authorised Economic Operator (AEO) certification.  This compares to a total of around 130,000 eligible UK exporters. Supply …

United Kingdom

UK Brexit Customs and VAT Bill

January 8th, 2018

On Monday 8 January, the UK Parliament has its second reading of the Taxation (Cross Border Trade) Bill, which lays the ground for the post-Brexit Customs, VAT and Excise regimes. The Bill was published on 20 November 2017, and is part of a series of Brexit laws to adjust UK legislation for post Brexit.  This includes …


2018 Weaponising VAT

December 4th, 2017

Brexit. VAT fraud. Austerity straitjackets. Global tax wars. These are the colliding dynamics which in 2018 will lead to the UK, and worldwide governments, to undertake drastic measures on VAT and other taxes. This could include an emergency measure to relieve importers/exporters of potential Brexit VAT liabilities, through to the European Commission up-ending the entire …

United Kingdom

Companies cutting UK exposure on hard Brexit fears

November 2nd, 2017

In anticipation of Brexit, 1 in 12 businesses are now planning to reduce their business in the UK compared to just 1 in 50 in 2016 The latest Avalara Brexit Survey first carried out in September 2016 with over 70 international tax and accounting professionals, also uncovered that 76% of those surveyed now anticipate a …

United Kingdom

SNP tourism VAT cut call

June 2nd, 2017

The SNP has called this week in its UK election manifesto for a VAT cut to tourism industry.  This has long been rejected by the UK government which controls UK-wide policy under EU laws.  However, following Brexit, Scotland will be free to claim for control over tourism and all VAT collections and rates – as …

United Kingdom

UK 35,000+ micro-businesses drawn into Brexit EU VAT net

April 27th, 2017

An estimated 35,755* UK micro-business selling over the internet into Europe face being drawn into the EU VAT net for the first-time following Brexit.  Costs to meet this new requirement could reach €216,000pa. UK e-commerce businesses benefit from EU VAT exemption The UK’s membership of the EU includes allowing UK-based small businesses to sell goods …