29 June 2016
On 23 June 2016 the UK public voted to leave the EU.
With the withdrawal process likely to begin in September or October 2016 and the possibility of at least 2 years’ worth of negotiations to undertake with the EU in order to leave, there is likely to be no change or effect to the EU VAT compliance of any companies doing business to, or from the UK until at least the end of 2018.
In relation to the VAT compliance rules specifically, these will remain the same until the UK leaves the EU and at that point new legislation governing VAT treatments will be put in place by the UK Government. Until the new legislation is implemented it will not be clear how this will affect UK VAT registered entities going forward despite speculation.
We at Fiscal Solutions will make sure that our affected clients are fully briefed on all changes as they are announced.
LATEST NEWS
E-invoicing hub
Navigating complexity and preparing for the digitalisation of VAT and the future of tax Following compromises and modifications to the original proposal, the...
SEE MORE
LATEST NEWS
EU finance ministers agree to introduce new customs...
In November, the Economic and Financial Affairs Council (ECOFIN) agreed to introduce a customs charge on low-value parcels valued below €150. The charge...
SEE MORE
LATEST NEWS
UPDATE: Swiss government confirms likely delay for the...
The Swiss tax authorities have confirmed that the increase in the standard VAT rate from 8.1% to 8.8% will now be postponed until 2028. This VAT rate increase...
SEE MORE