Post Brexit VAT Rules

Post-Brexit VAT Rules – Protecting EU Cross-Border Trade

The UK’s exit from the European Union was only the beginning for businesses and their planning. And as the immediate months after Brexit have shown, tax teams must continually adapt their processes, resources and technology to keep pace with changes.

Confidently navigating this landscape requires extensive knowledge of legal, fiscal and operational matters. Our Post-Brexit VAT Rules e-book will help you overcome these challenges.

Download the e-book for the latest guidance on how to comply with VAT rules in a post-Brexit world and how to protect your cross-border trade.

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What’s changed post-Brexit?

The UK became a third country with regard to the EU on 1 January 2021. This has had major consequences. It affected everything from cross-border trade and tax administration to law-making, government coordination and consumer rights.

The EU-UK Trade and Cooperation Agreement was agreed on 24 December 2020, a week before the end of the transition period, and is now fully implemented into UK law. Subsequently, on 27 April, this agreement was ratified in the European Parliament.

However, as the months continue to pass, businesses still feel the everyday effects of the agreement. Many organisations are still untangling what Brexit means to them from a VAT compliance perspective.

This e-book explores what points businesses should focus on post-Brexit.

Learn more about:

  • An independent United Kingdom and how this affects trade
  • Changes to VAT, including export exemptions and import accounting
  • The effect on supply chains and fiscal representation
  • How Post-Brexit Impact Reviews can help businesses
  • Next steps

Supply chains in a post-Brexit world

Businesses should continue reviewing their supply chains and, where necessary, put appropriate new measures in place to protect trade.

For example, UK businesses can no longer use their UK VAT number to apply simplification measures within their supply chains – such as acting as the intermediary party in triangulation and operating a call-off stock.

This e-book covers this topic in depth as well as:

  • B2B Supply Chains
    Learn about Incoterms, VAT registration within Member States and how businesses approach VAT recovery within a post-Brexit world.
  • B2C Considerations
    The removal of Low Value Consignment Relief in addition to the introduction of the Import One Stop Shop (IOSS) alter how UK businesses sell to European customers. Because of this, it’s important that B2C businesses understand what’s required to stay compliant.
  • Fiscal Representation
    Many EU tax authorities require non-EU businesses to appoint a fiscal representative when registering for VAT. Discover how this affects your business and the people leading your VAT compliance. 

Sovos can help your business post-Brexit

There’s no denying that Brexit commands an inordinate amount of time, resources and money.

Sovos is here to solve the complexities you’re facing due to Brexit as well as the digital tax wave occurring in many countries around the world.

Whichever side of the channel you operate on, contact us to discuss how we can help you navigate the complexities of a post-Brexit landscape.

Download the e-book.