Post Brexit VAT
A summary of the changes to goods and services for the UK and EU businesses following the UK leaving the VAT regime.
- There are limited changes for B2B transactions
- The reverse charge will still apply
- More consideration will be needed for B2C transactions
- All transactions above £135 will be subject to imports and exports
- New Postponed VAT Accounting scheme so no cash VAT payment has to be made by business importers to UK customs.
- Access postponed import VAT statements online
- Option to postpone through customs clearance paperwork