Get to grips with Brexit

On 31 December 2020, the eleven-month Brexit transitional period ended, meaning the UK is no longer part of the EU Customs Union, VAT Territory or Single Market. This situation poses challenges for your practice, your clients and the wider industry. Make sure your firm is in a position to help clients mitigate these challenges and help them identify opportunities.

How we can help

Brexit VAT factsheet for your clients

The UK has left the EU VAT Territory and Customs Union. Our factsheet can help businesses in England, Wales and Scotland deal with the resulting changes

 

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Client communications

Tell your clients about important changes to VAT and customs arrangements following the UK's departure from the EU. Our new client letter is easily adaptable for you to share with your clients by email, on your website, or by post.

Brexit VAT factsheet for your firm

Our factsheet can help accountants identify what help and support their clients in England, Wales and Scotland may need. 

 

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Understanding the impact of Brexit - courses and events

The UK has left the Single Market, EU VAT Territory and the Customs Union. Rules and processes have changed. This series of on-demand courses covers the potential impact of the changes for businesses in England, Wales and Scotland, particularly those who trade internationally.

VAT

This course discusses the impact of the changes for businesses in England, Wales and Scotland, particularly those who trade internationally. It’s intended for accountants in general practice who have knowledge of the basic rules surrounding international VAT.

Accounting

For the last forty years UK company law has been very heavily influenced by EU directives and regulations. As the UK extricates itself from the EU there are various issues which will affect some companies and their auditors for periods commencing on or after 1 January 2021. This course will look at the impact upon accounting issues.

Auditing

For the last forty years UK company law has been very heavily influenced by EU directives and regulations. As the UK extricates itself from the EU there are various issues which will affect some companies and their auditors for periods commencing on or after 1 January 2021. This course will look at the impact upon auditing issues.

Duty and Customs

There is now a ‘Tariff Wall’ around the UK for importing goods from anywhere in the world including the ‘remaining 27’ Member States of the EU. Getting goods through that Tariff Wall comes at a cost.  The main cost is usually Customs Duty. 

Ireland and GB

This session will cover in detail the specific issues and procedures in dealing with the trade in goods between the UK and Ireland.

International Tax Conference 2021

Our one day International Tax Conference has been specially designed for tax specialists who require an in depth knowledge of current topical issues. Speakers will look at recent key changes together with other current issues and enable those attending to give the best possible advice to their clients.

News and opinion

VAT on low value imports in 2021 and beyond

A frequent grumble on social media is that overseas-based e-commerce websites are now charging significant tax and duty fees to British customers at the checkout process, even on orders costing as little as £3.50. Some members of the public are blaming Brexit, but that isn’t the case.

Key messages for your clients

It’s happened. The UK has completely left the EU, and whilst the World didn’t end on 31 December, we’ve seen a constant news stream telling us about delays at the border, unforeseen costs, and unprecedented amounts of paperwork.  Only time will tell if these problems will be ironed out, but in the meantime, here are some key areas where accountants in practice can proactively help their clients weather the storm.

Deferred accounting for VAT on imports

Also known as “postponed accounting”, the above scheme will be introduced from 1 January 2021 to help mitigate the cash flow impact of Brexit on businesses that buy goods in from the EU.

Trading after Brexit

The United Kingdom officially left the European Union (EU) on 31 January 2020 and the 11-month transitional period ended on 1 January 2021. There are important changes businesses must now make in order to continue trading with the EU.