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Brexit impact on VAT and other taxes

The UK Brexit transition period ended on 31 December 2020. New rules apply from 1 January 2021. This page brings together guidance and news from ICAEW, as well as externally-produced resources providing practical information on changes to VAT treatment, duties and other taxes.

Need to know

Latest news and insights

Tax news in brief

Highlights from the broader tax news week ending 7 July, which includes: a reminder of the 31 July deadline for tax credit renewals; links to new SIs correcting anomalies in EU-exit VAT legislation; a deadline extension for non-EU businesses making VAT repayment claims; a new online form for companies applying for de-minimis extended loss carry-back claims and confirmation that Northern Ireland business can use the one stop shop union scheme from 1 July.

Tax news in brief

Highlights from the broader tax news week ending 3 February, which includes: a restrained Scottish Budget in light of the coronavirus pandemic and HMRC publishes a Brexit edition of its Agent Update with guidance on postponed VAT accounting.

ICAEW technical round-up: January 2021

29 January 2021: This month’s top technical stories on ICAEW Insights include HMRC’s decision to waive late filing penalties for one month, help with common COVID-19 accounting and auditing issues, and a raft of Brexit news and guidance.

Guides and FAQs

Engagement letters helpsheet

Technical helpsheet providing sample wordings to help you draft engagement letters for a variety of typical engagements for both corporate and non-corporate clients. Includes full text and supplementary schedules.

VAT post Brexit

FAQ on how VAT rules have changed for British companies selling UK stock globally, now that the United Kingdom has left the European Union.

Government guidance on Brexit

The UK government and the European Commission (EC) have published guidance to help citizens and businesses understand the potential implications of the UK leaving the EU. This overview, part of ICAEW's Know-How series, helps you navigate through this guidance. Government guidance is expected to continue to evolve.

EU law and business: Brexit implications

Much Brexit guidance is concerned mainly with trade in goods, but there are a variety of other areas of EU law that also affect business. Our Know-how guides gives you a framework to understand these implications. It will be particularly relevant for services businesses seeking to assess how they are impacted.

Taxation (Cross-border Trade) Act 2018

The Taxation (Cross-border Trade) Act 2018 received Royal Assent on 13 September 2018. The Act seeks to replace the current EU Union Customs Code and amend current UK VAT and excise duty laws in connection with the withdrawal of the UK from the EU.

Webinars

The UK and DAC6 post-Brexit - where are we now?

In this webinar ICAEW Tax Faculty Business Tax Manager, Richard Jones, is joined by Jo Myers and Ariana Kosyan of EY to get you up to speed with the current position and discover the likely future shape of disclosure requirements for UK advisers and their clients.

The UK and DAC 6 post-Brexit - where do we go from here?

This webinar from the Tax Faculty will help if you or your clients have transactions with Europe. Watch the webinar to discover the likely future shape of disclosure requirements for UK advisers and their clients.

An exporters guide to Brexit

This webinar, in partnership with MHA MacInytre Hudson, explores export supply chain scenarios and highlights areas that UK businesses must consider as part of their Brexit planning to avoid unnecessary delays or compliance failures. It covers INCOTERMS for reviewing contracts, options for minimising customs duties, and labelling requirements.

External resources

EU VAT e-commerce package

Paper from HMRC on the EU rule changes from 1 July 2021 relating to the movement of goods from Northern Ireland to the EU and imports of low value goods into the EU or Northern Ireland.

Brexit: The practical experience from both sides of the channel

Webinar on 25 May 2021 with specialists from the UK and EU addressing tax and legal implications arising post-Brexit. It covers potential solutions for VAT and direct tax issues, UK freeport proposals, risk of UK taxable income, cross-border staff, product safety and marking, IP, and contracts.

Value Added Tax EU Exit Transitional Provisions

Guidance on the VAT treatment of transactions or movements of goods which span the end of the transition period. It covers goods, fulfilment houses, services, call-off stock, and financial services.

Modernising VAT for cross-border e-commerce

Information from the European Commission on the modernisation programme that includes the new VAT e-commerce rules that will come into force on 1 July 2021 and which affect everyone in the e-commerce supply chain for cross-border supplies to consumers in the EU.