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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.

Services

services supplied from UK

 

  • There are limited changes for B2B transactions
  • The reverse charge will still apply
  • More consideration will be needed for B2C transactions

 

Goods

Goods coming into UK

 

  • 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
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