³ÉÈËÓ°Òô

Brexit ― overview


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
tag-icon Brexit

Brexit ― overview


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
tag-icon Brexit
imgtext

This guidance note considers issues that businesses need to consider in connection with Brexit and VAT.

The UK negotiated a Withdrawal Agreement with the European Union and left on 31 January 2020 subject to the transition / implementation period. The transition period ended at 11pm (GMT) on 31 December 2020 with a Trade and Cooperation Agreement (running to 2000 pages of text including Annexes and Protocols) having been agreed just days before.

For information about the VAT rules in each EU country, please refer to the VAT in the EU guidance note.

How has Brexit impacted UK VAT and customs law?

Prior to the end of the implementation period, a lot of the rules around VAT and customs in the UK were either derived from EU law or were EU laws which had ‘direct effect’ in the UK. The UK was also required to respect case law judgments made by the Court of Justice of the European Union (CJEU).

Since 1 January 2021 (ie the end of the implementation period), the legal position has changed

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL NOW
Powered by
  • 23 Nov 2022 18:27

Home/ Tolley Tax Guidance/ Value Added Tax / Other practical considerations

Popular Articles

Value Added Tax

Exporting goods ― proof of export

Exporting goods ― proof of exportIn addition to the requirements laid down in the Exporting goods ― overview guidance note, businesses intending to zero-rate exported goods must hold satisfactory evidence that the goods have been delivered to a destination outside of the UK. If satisfactory evidence

15 Dec 2020 14:02 | Produced by Tolley Read more Read more
Trusts and Inheritance Tax

Gifts with reservation ― overview

Gifts with reservation ― overviewIntroductionA gift with reservation (GWR) arises when an individual ostensibly makes a gift of his property to another person but retains for himself some or all of the benefit of owning the property. The legislation defines a gift with reservation with reference to

14 Jul 2020 11:48 | Produced by Tolley Read more Read more
Personal Tax

Gilts

Gilts‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt

14 Jul 2020 11:48 | Produced by Tolley Read more Read more