HMRC recently released a “partners pack” providing some insight regarding what changes may take effect after Brexit, one of which was how import VAT would work in a “no deal” circumstance. To quote exactly “If the UK leaves the EU without an agreement, the government will introduce postponed accounting for import VAT on goods brought into the UK. This means that, if you’re a UK VAT-registered business importing goods into the UK, you will be able to account for import VAT on your VAT return, rather than paying import VAT when goods arrive at the UK border.” It is also stated that this will be a blanket move for all imports, regardless of whether the goods will come from the EU or outside the EU, and for how long this would last is not stated, so would appear to remain to be the case indefinitely.

If you have any questions or concerns regarding Brexit, then please do not hesitate to contact us.