How will BREXIT
affect your business?
The UK left the European Union on January 31st, 2020. The transition period comes to an end December 31st, 2020. The United Kingdom is no longer a Member of the EU and is considered as a third country from an EU perspective. The EU countries will be visa versa considered as third countries from the UK perspective.
Good movement between EU countries and the UK will no longer be intracommunity operations but imports and exports. This will imply customs procedures:
- Customs tariffs / duties: This implies that all goods going from the UK to the EU (or visa versa) will be taxed on import. Customs tariffs will have to be paid entering the territory.
- Import VAT: This implies that all goods going from the UK to the EU (or visa versa) will be VAT taxed on import. VAT will have to be paid when importing goods.
- VAT registrations: Your company may be obligated to register for VAT in some cases. As according to the above, someone needs to be the importer of goods. If it is the seller, the subsequent sale of goods to the end client (after customs and duties) necesits a VAT number in that country.
- VAT refund requests: VAT refund requests concerning VAT paid in the EU by UK companies (or visa versa) will have to go through the 13th Directive. This can take up to six months or more in some cases.
- New EORI number needed in the UK: the EORI number, previously valid in the EU and the UK will not be valid anymore in the UK. From January 1st, 2020 onwards, companies exporting or importing in the UK will need to ask for a UK EORI number.
Our services to guide you
Free audit and cartography
Knowledge is the first step to compliance. We need to map in detail your various types of operations, flow of goods and other variables. Only then we can determine your fiscal liabilities. Our experts offer a FREE AUDIT of your current situations and of course our recommendations for your particular situation and targets you want to achieve.
- VAT registration in the UK and all other European countries
- Fiscal representation in countries where needed
- VAT filing in the UK and all other European countries
- VAT Compliance Services and training
Customs related services
- Designated exporter of records in the EU for companies outside the EU
- Customs compliance services
- Intrastat filing
Give us a call on +33 3 20 25 70 73 or book a meeting with our specialists to discuss the situation of your company regarding the Brexit!