Preparing Your Business for Brexit

United Kingdom’s government announced that the UK will be leaving the EU on October 31, 2019 “whatever the circumstances”.

If this really happens there will be immediate changes to the way businesses trade with the UK. Here’s how Brexit may impact your business:

• Companies will have to apply customs, excise and VAT procedures to trade with UK companies, in the same way they do for goods and services traded outside the EU.
• UK businesses will apply customs, excise and VAT procedures to trade with the EU, in the same way they do for goods and services traded outside the EU.
• UK businesses are being issued a UK EORI number. UK companies will not be able to move goods in and out of the UK without their own EORI number.

Our advice is to stay up to date on Brexit developments and contact Euro VAT Refund to learn: When/how to account for import VAT and how to complete your VAT Return. Euro VAT Refund, Inc. is happy to answer your questions about Brexit and provide tailored recommendations. Contact our VAT experts today for more details.

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