September 13, 2020

Postponed VAT Accounting facilitation post Brexit transition period.

Postponed VAT Accounting facilitation

There have been no duties and taxes on imports from the European Union into the United Kingdom as part of the European agreement. On December 31st, 2020 when the transition period comes to an end, new rules will be in place. 

The UK government have advised that they will facilitate the ability to account for VAT under the Postponed VAT Accounting facilitation regulation.

This new regulation will apply to imports from any country, not just from the European Union on this date. 

Guidance on who is eligible and you can take advantage of this new regulation is available here

 

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