February 8th, 2019.

Following latest no-deal Brexit VAT guidance from HMRC, UK businesses should act now to avoid missing VAT refunds, according to RSM accountants.

With the UK’s withdrawal from the EU just around the corner and a no-deal Brexit very much still a possibility, Andy Ilsle, indirect tax partner and George Bull, senior tax partner at accountants RSM have highlighted HMRC guidance on some of the practical challenges that could face UK businesses. These include reclaiming VAT from EU member states; VAT registration issues for consumer businesses selling digital services to the EU; and how to verify UK VAT registration details. Affected businesses must act now, the experts say.

Bull says: “If the UK leaves the EU without a deal, from 11.00pm GMT on 29 March 2019 many UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world.”

While conceding that HMRC is going as far as it can to help affected businesses, he points out that the guidance does not apply to importing or exporting goods between Northern Ireland and Ireland.

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