Brexit and VAT revisted 2019

April 15, 2019

We’re asked a lot about how VAT may change post Brexit, as with all things Brexit the short answer is that literally no-one knows, but it seems increasingly unlikely nothing would change for the medium term at least with regards to VAT. The Withdrawal Agreement legislation, which is anyone’s guess as to whether that will ever pass in the House of Commons has a specific clause, Article 51, that points to no changes in VAT rules for 5 years after a lengthy transition period from the EU. The key point here is ‘VAT rules’, rates applied may change and often do in countries across EMEA but not the underlying rules of application.

 

Even with a ‘No Deal’ Brexit occurring in the immediate short term it would seem unlikely that the UK Government would look to change much certainly in terms of B2B VAT given the percentage of Government income that is derived from VAT and related import duties.

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