It is hard to prepare when we don’t even know if it will be Deal or No Deal! And the extent of any changes come 29 March 2019 are still not clear.

The regulation of trading with the EU will remain broadly the same until the end of the implementation period (31 December 2020) if the UK government reaches full agreement with the EU on all withdrawal issues.

However, in the event of NO DEAL, there will be immediate changes come 11pm on Friday 29 March 2019, including the need to comply with the customs, excise and VAT procedures for movement of goods. If you are used to trading with non-EU countries, the same obligations will apply for EU countries with a No Deal Brexit. If you are not used to trading with non-EU countries, it may be prudent to start familiarising yourself with the requirements.

There are some Technical Notes published online;

VAT for business if there’s no Brexit deal

Trading with the EU if there’s no Brexit deal

How to Prepare if the UK leaves the EU with no deal

UK Governments preparations for a no deal scenario

HMRC advice to EU-only Traders

It’s hard to plan for “what ifs”, but at least start thinking about it

Alison Sampson

VAT Consultant

01273 480 480

alison.sampson@knilljames.co.uk

Tags: UK200

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