- Training & Events
- About xTuple
The UK is set to leave the European Union (EU) in the next few months. Currently, this will be without any agreement on its exit terms or future trading relations with the remaining EU members or rest of the world. This guide — from our partner at Avalara — explains how businesses will be impacted by new customs and value-added tax (VAT). It includes a No-deal Brexit Checklist, with details of actions businesses should take now to mitigate the new trade frictions and tax liabilities.
The UK’s HM Revenue and Customs (HMRC) has written to all VAT-registered businesses that trade with the EU to recommend immediate actions in the case of a no-deal Brexit. This is over 145,000 businesses.
The present plan is for the UK to remain within the EU VAT regime and Customs Union for a 21-month transition period until 31 December 2020. However, this is dependent of the passage of the Brexit Withdrawal Agreement in UK and EU parliaments in the next few weeks.
HMRC has therefore recommended the following three actions to help mitigate problems with VAT and customs issues should this not happen, and there is a non-deal Brexit.
Originally published June 11, 2019. Brexit is a rapidly evolving story; please check back for updates!
Learn more about Solutions for Manufacturers.
119 West York Street
Norfolk, Virginia 23510 USA
"xTuple" (verb) — to grow; to increase exponentially. Our mission is to help manufacturing and inventory-centric companies use management software and best practices to grow their business profitably.