VAT news tagged as "Brexit"

United Kingdom

UK non-tariff Brexit risks

September 13th, 2018

As the increasingly febrile politics of a no-deal Brexit pushes the UK towards a no-deal EU departure, businesses are beginning to take the implications for their international trade seriously. This includes concern over potential tariffs if the UK leaves the Single Market and EU Customs Union. But fretting about tariffs is 19th Century thinking for a 21st …

United Kingdom

UK issues Brexit no-deal VAT guidance notice

August 23rd, 2018

The UK has today issued a range of guidance notices informing the public and businesses of the implications of the UK leaving the EU on 29 March 2019 without a formal Withdrawal Agreement. The government emphasizes that this is unlikely given the progress of ongoing discussions. One of the notices covers VAT implications for businesses …

United Kingdom

UK votes to not rejoin EU VAT regime post Brexit

July 17th, 2018

On 16 July, the UK Parliament voted to amend the Brexit Customs Paper to ensure the UK does not remain within the EU VAT regime post Brexit. Aside from meaning the UK will exit the VAT regime, the amendment could raise questions over a hard Northern Ireland border. The amendment, won by 3 votes (303 vs 300), …


UK avoids EU VAT issues till post Brexit

July 16th, 2018

On July 12, the UK issued a White Paper outlining its proposed economic partnership with the EU after Brexit, scheduled for 29 March 2019. Whilst the discussion paper does represent a significant advance on the UK’s aspirations on future trade rules, it is vague on tax and VAT issues – effectively postponing any discussions until the …

United Kingdom

EU Customs Union: halves membership rebate for Brexit

May 19th, 2018

The European Commission has proposed that it halves the customs duties rebates to members of the EU Customs Union. The EU currently retains €20billion for its own income of the €25billion in collected common tariffs. The proposal is to raise this to €22.5billion. The extra funding will be retained by the EU as part of its …

United Kingdom

UK HMRC delays projects on Brexit customs fears

May 13th, 2018

The UK’s tax authorities, HMRC, has delayed 39 of its scheduled 267 ongoing efficiency programmes to ensure it can be ready for Brexit on 29 March 2019. Brexit customs IT upgrades sideline efficiency projects HMRC requested the delays to help ensure its new customs declaration services (CDS) would be Brexit-ready for a January 2019 launch. In …