skip to navigationskip to main content

VAT and Brexit

Newsletter issue - February 2020.

HMRC have not yet issued any guidance as to how imports from, and exports to, EU and non-EU countries should be recorded for VAT return purposes after 31 January 2021, what happens with the reverse charge, and what should be recorded in boxes 8 & 9 of the VAT return. The last guidance given was in the case of a no deal Brexit and we are monitoring any new advice as it is issued.

HMRC have said:

  • There will be NO requirement to complete an EC sales list for sales after 1 January 2021.
  • Intrastat returns WILL continue to be required.

Any changes in reporting and claiming will affect all invoices raised to non-UK customers and any duty or VAT on imports after 1 February 2021 will be affected. Businesses need to be ready to make changes to how these invoices are recorded once guidance is available.

Accounting software is likely to require updating once the reporting requirements are clarified.

Current HMRC guidance on Brexit can be found on the Gov.uk website at https://www.gov.uk/topic/business-tax/vat.

request-a-callback

Request a callback

Let us know and we will be happy to call you back.

get-in-touch

Get in touch

Simple way to contact us. Just fill in a simple form.

free-consultation

Free Consultation

We will offer as much advice as we can.

our-services

Our services

Find out details about what we can do for you.

Keep up to date

Why not sign up to our newsletter and keep up to date with all thats happening @KPSK Accounts & Tax Limited.

Please read our Privacy Policy before signing up