UUÂãÁÄÖ±²¥

Brexit ― overview


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
tag-icon Brexit

Brexit ― overview


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
tag-icon Brexit
imgtext

This guidance note considers issues that businesses need to consider in connection with Brexit and VAT.

The UK negotiated a Withdrawal Agreement with the European Union and left on 31 January 2020 subject to the transition / implementation period. The transition period ended at 11pm (GMT) on 31 December 2020 with a Trade and Cooperation Agreement (running to 2000 pages of text including Annexes and Protocols) having been agreed just days before.

For information about the VAT rules in each EU country, please refer to the VAT in the EU guidance note.

How has Brexit impacted UK VAT and customs law?

Prior to the end of the implementation period, a lot of the rules around VAT and customs in the UK were either derived from EU law or were EU laws which had ‘direct effect’ in the UK. The UK was also required to respect case law judgments made by the Court of Justice of the European Union (CJEU).

Since 1 January 2021 (ie the end of the implementation period), the legal position has changed

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL NOW
Powered by
  • 23 Nov 2022 18:27

Home/ Tolley Tax Guidance/ Value Added Tax / Other practical considerations

Popular Articles

Trusts and Inheritance Tax

Settlor-interested trusts

Settlor-interested trustsWhat is a settlor-interested trust?A settlor-interested trust is one where the person who created the trust, the settlor, has kept for himself some or all of the benefits attaching to the property which he has given away. A straightforward example is where a settlor

14 Jul 2020 13:38 | Produced by Tolley Read more Read more
Personal Tax

Payment of tax due under self assessment

Payment of tax due under self assessmentNormal due dateIndividuals are usually required to pay any outstanding income tax, Class 2 and Class 4 national insurance, and capital gains tax due for the tax year by 31 January following the end of the tax year (ie 31 January 2025 for the 2023/24 tax year).

14 Jul 2020 12:52 | Produced by Tolley Read more Read more
Personal Tax

Payment of the remittance basis charge

Payment of the remittance basis chargeRemittance basis chargeThe remittance basis charge is an annual charge payable by ‘long-term’ UK residents for the privilege of claiming the remittance basis.Taxpayers who wish to utilise the remittance basis (but do not qualify for it automatically) must pay

14 Jul 2020 12:52 | Produced by Tolley Read more Read more