NEWS
Deal or no deal - Action required for UK businesses
As the UK becomes a third country for VAT purposes from 1st January 2021 when the transition period ends, most EU tax authorities will require UK businesses with non-resident EU VAT registrations to appoint a fiscal representative.
The new requirements can vary from country to country. In addition, some countries also require businesses to put a financial guarantee in place. This raises many questions for both business-to-business (B2B) and business-to-consumer (B2C) sales; even more for companies with complex supply chains.
With the countdown on until the end of the transition period, finalising Brexit preparations is a top priority for UK businesses looking to avoid disruptions to valuable supply chains. It’s crucial to recognise that even if a Free Trade Agreement is negotiated, the outcome remains the same and businesses need to take action now – the Government has stated that the UK will leave the Single Market and the Customs Union, both of which will have a huge impact on businesses' VAT implications.
Together with our European VAT specialist partner, we are on hand to support you with:
Fiscal Representation | A legal requirement for non-EU businesses in many EU member states, we can help you to determine whether you need to switch your direct EU VAT registrations to Fiscal Representation, and set these up for you.
VAT Registrations & De-registrations | We can support you to remain both VAT-compliant and VAT-efficient by assessing where your business needs to be registered and efficiently bringing your registrations profile up-to-date.
VAT Recovery | Submitting a successful VAT recovery claim is an opportunity to improve your bottom line and maximise cash flow at a time when this has never been more critical. For UK businesses, this is the last chance to submit a claim via the EU Refund Directive route. Our specialist VAT recovery experts can manage claims on your behalf to ensure money you’re entitled to comes back into your business.
Ready to learn more?
Check our our Top 10 FAQ on Fiscal Representation & VAT here and contact us today to get your business Brexit-ready.