Newsletter Autumn 2020

Brexit - The End of Transition is Nigh

The UK left the EU on 31 January 2020 but all trading arrangements, including VAT, are held in suspension until the end of the transition period on 31 December 2020.

Whatever deal is finally agreed between the EU and the UK government, the VAT rules for UK traders will be different from 1 January 2021, as the UK will be treated as a third country rather than as a member of the EU.

These are some of the VAT changes that UK businesses need to prepare for:

These are just a fraction of the major changes that result from the UK leaving the EU. The UK tax rules are also changing for other reasons, as we explain in this newsletter.