IMPORT VAT IN A “NO DEAL” POST-BREXIT UK

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…