The UK’s departure from the EU has led to significant changes in the way that many businesses now sell their goods to the UK. UK VAT Representation doesn’t just do VAT, we offer a full range of solutions to enable you to trade in Great Britain.

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Fundamental Changes

The most obvious change has been the transition from the provision of intra-community supplies and acquisitions moving around a single European market; to one of imports and exports, moving across international borders.

The estimated annual cost of BREXIT has been conservatively put at £8bn for Great Britain alone.

However this overlooks the second-order costs of VAT registration, reporting and product certification, as well as other costs to business caused by reduced cashflow, as capital has to be held back to cover even temporary costs.

Business-to-business (“B2B”) sales made under Delivered Duty Paid (“DDP”) and Ex-Works (“EXW”) Incoterms in particular have impacted both sellers and buyers. Whilst European and other third country businesses which used distance-selling for business-to-consumer (“B2C”) operations have found themselves impacted by the loss of Low Value Consignment Relief and the added costs directly charged to the consumer on shipments above £135 in value.

VAT Registration & Reporting

From 1st January 2021, all non-established businesses exporting to the UK will have to file customs declarations and VAT returns on all taxable goods entering Britain. This includes on zero-rated products such as food, books and children’s clothes.

Rules & Statements of Origin

Depending upon the origin of the goods being imported; additional tariffs, duties and import VAT may also be due if the products that are not manufactured in the EU/EEA are forwarded to Britain. This applies even if the UK has a trade agreement with the same country.

Whether you are a start-up, a small to medium sized enterprise or a major corporate; this may be the first time that you have exported to a market outside the EU. With so much at stake, making a mistake could be a costly lesson to learn.

We Can Help

With UK VAT Representatives, you have a trusted partner who will you understand how to operate with confidence in this new world, leaving free you to concentrate on making your business a success.

To learn more about what we can offer you, contact us today for a free consultation.Contact Us