The UK government admits that post-Brexit trade deals include clauses that could prevent companies benefitting from freeport tax breaks, affecting business worth up to £35bn annually.
Tax news and insights
Articles, updates and features from ICAEW offering analysis and commentary on how the UK's exit from the EU affects treatment of VAT and other taxes.
Businesses qualifying for a grant under the Brexit Support Fund only have until 30 June 2021 to apply and may not succeed if the £20m fund runs out before the deadline.
Small and medium-sized UK businesses needing support on customs duties and VAT will be able to apply to the SME Brexit Fund for a grant of up £2,000 to pay for professional advice or training, confirms HMRC.
24 February 2021: This month’s top technical stories on ICAEW Insights include updates on self assessment penalties, IR35 changes and a major change to the government’s Kickstart Scheme.
16 February 2021: UPS’s Walter Van Der Meiren, who spoke at an ICAEW webinar last week, explains the main issues post-Brexit and how the EU and UK governments could ease them.
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.
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.
27 January 2021: At ICAEW’s East of England Summit, a panel of experts discussed what might happen once the transition period ended, with topics ranging from Rules of Origin, Delivered Duty Paid terms and VAT changes.
20 January: UK businesses that have supplied eligible digital and telecommunication services into the EU since 1 January 2021 have three weeks to apply for the non-union VAT mini one stop shop. ICAEW’s Tax Faculty provides an overview.
14 January 2021: ICAEW has issued new guidance on rules governing the origin of goods and warns businesses might end up having to pay customs charges or penalties if they fall foul of the rules.