Articles, updates and features from ICAEW offering analysis and commentary on how the UK's exit from the EU affects trade and business internationally.
The UK has signed its first “from scratch” Free Trade Agreement since leaving the EU, promising new business opportunities as well as easier access for skilled workers, including accountants, to Australia’s service sectors.
11 March 2021: A strategy recently adopted by the European Commission paves the way towards a greener trade policy, accompanied by a push for reform of global trading rules. It makes clear the EU’s determination to take a tougher approach towards enforcing trade agreements and dealing with unfair trade practices.
24 November: HMRC has published guidance on how organisations deal with VAT when selling overseas goods to customers within Great Britain from 1 January 2021.
19 November: HMRC confirms access to the EU VAT refund system will end on 31 March 2021 and claims relating to VAT incurred after 31 December 2020 will have to be made manually.
10 November 2020: The UK government has created the Trader Support Service to help firms involved in the movement of goods between Great Britain and Northern Ireland. It provides support on adapting to new processes, including issuing XI EORI numbers which are mandatory from 1 January 2021.
3 November 2020: A webinar hosted by the UK Association of Southeast Asian Nations Business Council has highlighted the strength of the UK-Vietnam trading relationship and the continued opportunities available to both countries.
30 September 2020: As the Brexit transition period nears its end, businesses in the UK and EU face a number of VAT issues that need to be addressed, says indirect tax expert Stephen Dale, FCA.
30 September 2020: As the Brexit transition period nears its end, manufacturers are working to get measures in place in preparation. Rittal UK’s finance and HR director explains some of the complications involved.
25 September 2020: Stavros Pantzaris, Partner and Chairman of the Board at EY Cyprus, says that Cyprus’s economy is battling through the impacts of pandemic and is squaring up to Brexit.
22 September 2020: It was no good making assumptions. The Port of Rotterdam had to prepare for no UK/EU trade agreement early and now, with just a few weeks to go, it has already built a community of consensus, through stakeholder buy-in, to its new procedures.
Find more guidance and material on how to prepare for the end of the transition period.