- Do you supply goods to businesses and particularly private individuals in the EU?
- Do you buy goods from the EU?
If you have answered yes to either of these, have you fully considered the potential impact VAT and Duty will have at Brexit?
- How will customers receive goods quickly?
- Who will pay the EU import taxes?
- Is there a potential need to set up an EU base?
If so, where do you set up and what is required for registration/compliance?
- Do you need revised contractual terms of business?
Have you had a meaningful conversation with your advisers about VAT/Duty?
We know everyone is waiting for clarity on what Brexit will mean before taking action. The trouble is, it will take some time to advise on structures, implement changes and ensure compliance. If we leave the EU on 31 October, there is a commercial risk if you wait. We have produced a one page guide, found here and in ‘Downloadable documents’ below, which sets out some of the basic questions that arise as a result of a no-deal Brexit.
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