Brexit – what should I know now it’s ‘done’?

With the final stage of Brexit now completed, and the UK out of the Customs Union and VAT regime, we wanted to highlight for you the must-knows to keep your goods or services moving, customers and tax offices happy.

Below are some of the key points you should understand, with links back to full blogs with all the details. You can also join our FREE Brexit: the morning after online summit on 12 January for a full analysis of the trade, customs and VAT changes.

 Contact Avalara for free guidance on how this may affect your business.

• UK or EU businesses moving goods have taken on new VAT and customs obligations. Read our 10-point checklist.
• For ecommerce sellers this means extra VAT registrations or having to stop selling. Digital services sellers will need extra MOSS registrations too.
• But there is help on UK import VAT with the new Postponed VAT Accounting. 
• The UK’s HMRC has also reformed the import VAT and marketplace liability rules on ecommerce, meaning new VAT registrations and the obligation to charge import VAT in the checkout.
• The Trade and Cooperation Agreement means there are no tariffs. Import VAT remains though. However, UK businesses will get stung with ‘double tariffs’ if they continue to first import goods into the UK and then sell to the EU.
• Northern Ireland now has hugely complex VAT and customs rules, including new ‘XI’ VAT and EORI numbers.

Contact Avalara for free guidance on how this may affect your business.