UPDATE: UK provide BREXIT withdrawal agreement

7 December 2018

During November 2018, the UK government released details of a withdrawal agreement setting out the terms of its exit from the EU in March 2019. This agreement has also now been agreed by the other 27 EU member states governments.

The agreement includes the previously stated 19-month transition period for VAT purposes, which means that the UK will remain within the EU VAT, Customs and Excise regime until at least 31 December 2020. Please see our previous article here for further detail regarding this transition period.

It also included a ‘Backstop’ protocol to maintain a long-term open border between Ireland and Northern Ireland. This protocol states that if the EU and UK could not agree on a frictionless-trade solution after the transition period, then Northern Ireland would remain in the EU customs union for goods only and the details of how this will work will be agreed after the March 2019 Brexit deadline by a joint Withdrawal Committee.

The agreement now needs to be agreed by UK parliament and if accepted will be adopted into UK legislation prior to the March 2019 Brexit deadline.

LATEST NEWS

Separate EORI number for Northern Ireland required

HMRC have recently confirmed that businesses who import and export goods from Northern Ireland (NI) will need a special Economic Operator Identification Number...

SEE MORE
LATEST NEWS

Ireland to introduce postponed accounting for import...

The Irish government have confirmed that a postponed accounting facility will be implemented for import VAT post-Brexit.  This new mechanism will allow all...

SEE MORE
LATEST NEWS

Belgium force UK companies to engage a fiscal...

The Belgium tax authorities are contacting UK traders who hold a Belgium VAT account to inform them that they have a requirement to appoint a fiscal...

SEE MORE

Gated Content

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