UK and EU businesses need to rise to the challenge to get Brexit-ready, and review supply chains and VAT records in preparation for trade with EU Member States.
Since January 2020, the UK is no longer a member of the EU but has been in a transition period where it still follows the EU’s law and regulations. The transition period is due to end on 31 December 2020.
VAT compliance is key to the success of any Brexit plan-of-action for the protection of supply chains, allowing companies to continue to trade confidently across Europe.
Businesses on both sides of the channel have much to do to prepare. We know the uncertainty Brexit generates is difficult to manage, so businesses need to be ready.
In the midst of this confusion, we can deliver clarity about the Brexit impact on VAT.
Sovos has extensive experience in preparing its customers for the implications of Brexit.