April 2020 Questions and Answers

2020-04-01T19:43:10+01:00April 20th, 2020|Categories: Questions & Answers|Tags: , , , , |

Q. My business imports goods from the EU. What is the current position reading postponed accounting for VAT? A. There is now a transition period until the end of 2020 during which the UK and EU negotiate additional arrangements. The current rules on trade, travel, and business for the UK and EU will continue to apply during the transition period. In broad terms, new rules will take effect on 1 January 2021. HMRC have confirmed that from 1 January 2021, postponed accounting for VAT will apply to all imports of goods, including from the EU. This will allow businesses to [...]