UK vote to leave the EU, so what happens now?

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

Belgium to cut e-book VAT rate from 1 January 2022

From 1 January 2022, the Belgium tax authorities have confirmed that the VAT rate on the sale of e-books, e-manuals, e-newspapers, and e-magazines sold online...

SEE MORE
LATEST NEWS

Ukraine to apply VAT on digital services from January...

From 1 January 2022, Ukraine will impose VAT at 20% on the sale of e-services to local consumers by non-resident businesses.  At present, non-resident...

SEE MORE
LATEST NEWS

Does a UK e-commerce business need an IOSS...

From 1 July 2021, the EU’s new e-commerce VAT reforms will be introduced allowing sellers to no longer pay import VAT at clearance on low-value consignments...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.