The UK is scheduled to leave the EU on the 31 October 2019. If there is no further delay, or if no Withdrawal Agreement is signed, then the UK will exit the EU VAT regime and Customs Union with immediate effect. This will impose duties, customs declarations and import VAT on goods moving between UK and EU borders for the first time.
Ahead of the latest EU exit date for the UK, 31 Oct 2019, HMRC has ramped up its customs and VAT rules for the 245,000 UK businesses selling into the EU. This will provide some help for companies getting ready for a potential no-deal Brexit. But many businesses have stilled failed to take many of the basic steps.
Join Richard Asquith as he details the key measures all businesses should be taking, and updating the potential planning issues for companies transacting with Europe.
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.