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TAXguide 21/17 – the tax implications of Brexit

Although many of the implications of Brexit are currently unknown, VAT and customs duties are likely to be affected. As these are based on EU law, Brexit provides an opportunity for the UK government to make legislative changes to these taxes. This Tax Faculty guide outlines the potential consequences.

This TAXguide has been updated following the publication by HMRC, VAT for business if there’s no Brexit deal, on 23 August 2018

The single market seeks to guarantee the free movement of goods, capital, services and labour, the "four freedoms, within the EU. Turkey has access for the free movement of goods through its membership of the EU Customs Union.