UK Brexit EU VAT & Customs Union exit law
In today’s UK Queen’s speech, when the government announces up and coming legislation, initial plans were included for a Bill to exit the EU VAT regime and Customs Union.
Later this summer, a Finance Bill and Customs Bill will be presented to parliament to modify the UK’s VAT regime to separate it from the EU customs legislation and VAT Directive.
Brexit Customs Bill
The bill will ensure:
- the UK has a standalone UK customs regime on exit
- flexibility to accommodate future trade agreements with the EU and others
- changes can be made to the UK’s VAT and excise regimes on exit from the EU, whatever the outcome of negotiations
- the government can collect payments of customs duties, administer the customs regime and tackle duty evasion
- control over the import and export of goods
There will be a wider Bill, ‘Repeal Bill’, which will consolidate all EU law into the UK law.
- This measure will repeal the 1972 European Communities Act and convert EU law into UK law
- The UK Parliament (and where appropriate, the devolved legislatures) will be free to make any future changes to its laws
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