What could the main impact of Brexit on your business?
The main consequence of Brexit is related to your VAT number. Direct VAT registration is no possible anymore. From 01/1/2021, you will have to appoint a legal VAT Representative. Any UK business with a foreign VAT registration in the EU may now face the obligation to appoint a VAT representative in most of the 27 EU states. The tax representative undertakes to complete the formalities required of the person who has appointed him (making the statement of establishment, book-keeping, signing turnover returns and paying the tax). The tax representative is legally responsible for meeting his obligations and legally liable for the tax owed. The tax representative has the same right as all other taxable person.
BEFORE BREXIT
You should follow the EU VAT rules applicables for importation:
- VAT due on importation
- VAT registration in the country of importation
- VAT due one sale
AFTER BREXIT
You should continue to follow the EU VAT rules applicables for importation:
- VAT due on importation
- VAT registration in the country of importation
- VAT due one sale
What is our solution?
In order to ascertain that, each UK company should review its operations under the VAT microscope.
We offer a two steps process:
1. Request our Brexit VAT booklet to review and compare operations and identify VAT impacts
2. Request a free video call with one of our VAT expert to challenge or validate your approach which will be concluded by a VAT summary, i.e. a short description of the best solution adapted to your business.