Following the end of the transition period on 1 January 2021, many businesses are taking on the challenge of overseas accounting for the first time.
Brexit
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HM Revenue & Customs (HMRC) has confirmed that both acquisition VAT and import VAT may apply on transactions spanning the end of the Brexit transition period.
More than 700 heavy-goods vehicles (HGVs) have been turned away and over 150 fines have been issued for non-compliance at the GB-EU border since the end of the Brexit transition period, according to the latest Government data.
The UK and Turkey have signed a post-Brexit trade deal that will secure almost £19 billion worth of annual trade, the Government has announced.
A new online Government service will help exporting businesses “identify new trade opportunities”, it has been revealed.
The UK’s new points-based immigration is now live to help businesses as they prepare for the end of the Brexit transition period on 31 December 2020. The new system outlines who can work in the UK once the free movement agreement with the EU ends on 1 January 2021. There […]
The Government has confirmed further details of the customs duty arrangements that will apply to Northern Ireland with the publication of the Taxation (Post-transition Period) Bill. The Bill enacts several of the arrangements contained in the Northern Ireland Protocol, a critical element of the Withdrawal Agreement that is designed to […]
The UK has signed a Partnership, Trade and Co-operation Agreement with North Macedonia, securing continued preferential access with the UK’s largest trading partner in the Western Balkans. Trade between the UK and North Macedonia was worth £1.8 billion in 2019 and the agreement means that trade can continue on the […]
HM Revenue & Customs (HMRC) has confirmed that access to the European Union VAT refund system for expenses occurred before 01 January 2021 will cease on 31 March 2021. After this date, UK businesses wishing to claim a VAT refund will have to do so manually through the relevant member […]
If you are a business who imports or exports products overseas, you may be entitled to grant funding to cover the cost of recruiting, training and adapting your business to the new demands of global trade. The grant funding scheme comes ahead of the end of the Brexit transition period, […]