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Import/Export

Accounting For Import VAT On Your VAT Return

HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union. Businesses registered for VAT in the UK can account for import VAT on their VAT Return for goods imported into: Great Britain (England, Scotland and Wales) from anywhere outside the UK […]

Read more September 10th, 2021

VAT Post-Brexit Changes To Imports And Exports

Exports If you are a VAT registered person or business and you export goods, from 1 January 2021 all sales of goods to a destination outside of the UK will be classed as Exports and therefore can be zero-rated as long as they meet the normal conditions in VAT Notice 703 Section 3. These include […]

Read more January 13th, 2021

Get Ready For Leaving The EU On 1 January 2021

The United Kingdom leaves the European Union at 11pm on 31 December 2020 when the transitional period ends. It is still unclear whether a trade deal will have been agreed with the EU by that date, and such an agreement is looking increasingly unlikely. HMRC have started writing to businesses alerting them to important changes […]

Read more October 15th, 2020

COVID-19 Advice For The Freight Transport Industry

Freight industry guidance on international travel during the coronavirus (COVID-19) pandemic, following government advice for British nationals. International and domestic freight transport (including by air, ship, road, and rail, including roll-on/roll-off transports) is classified by UK government as an essential activity in the context of its travel advice. The advice against non-essential travel is not […]

Read more May 19th, 2020

The Department For International Trade Offers Support To Exporters And Investors

The Department for International Trade (DIT) has outlined support available to 160,000 exporters and UK businesses are now eligible to secure export insurance cover to major international markets. See: https://www.gov.uk/government/news/coronavirus-dit-offers-support-to-exporters-and-investors Guidance on how to help secure export finance to keep trading during the coronavirus outbreak has been set out by the government in direct communication […]

Read more April 15th, 2020

Delaying Import Duty And VAT Payments Due To Covid-19

Many businesses that import goods into the UK from outside the EU operate deferment accounts, which allow payment of import duty and VAT to be delayed for 15 days after the month in which the goods are brought into the country. See Gov.uk – How to set up a deferment account: https://www.gov.uk/guidance/setting-up-an-account-to-defer-duty-payments-when-you-import-goods What are HMRC […]

Read more April 15th, 2020

COVID-19 Business Support Update 31 March

Key Government Resources Links You can find an updating list of official resource links here. 1. Department for International Trade (DIT) has issued guidance for UK businesses trading internationally. This advice is for UK businesses that export or deliver goods and services abroad and have been impacted by the spread of coronavirus (COVID-19). It includes: […]

Read more March 31st, 2020

Are You Brexit Ready?

On 31 January 2020, the UK finally left the EU after months of debate. Little impact will have been felt so far as we now enter the 11 month period of transition. This is to give the UK time to negotiate trade agreements with countries around the world, with the priority being those remaining in […]

Read more February 24th, 2020

Government Funding To Help Prepare For Customs Changes

£16m in new government funding is now available to help businesses train staff in making customs declarations, and to help businesses who support others who trade goods to invest in IT. This will ensure that trade with the EU continues as smoothly as possible after Brexit. Grants can be used to support: training costs for […]

Read more November 11th, 2019

Brexit: What Now For Businesses That Trade With The EU?

There is still uncertainty around what Brexit will mean and planning for a “No Deal” scenario seems sensible right now. Businesses that buy and sell from the EU should have contingency plans in place which will need to be flexible to cope with a variety of possible outcomes. If a ‘No Deal’ happens after October […]

Read more September 13th, 2019

Simplified Import Procedures In The Event Of “No Deal Brexit”

Arrangements have been announced by the Government regarding the movement of goods to and from the EU. A simplified import and export system has been implemented by HMRC – in the event of a ‘no deal’ scenario – as a mechanism to ensure that goods move to and from the UK, with a reduced administrative […]

Read more March 12th, 2019

No Deal Brexit – What About VAT?

The Government and HMRC have updated its collection of high-level guides called “partnership packs”, intended to help businesses involved in importing and exporting prepare for changes to customs procedures after 29 March 2019 in the event of a “no deal” scenario. If the UK exits the EU without a deal, UK businesses will have to […]

Read more February 18th, 2019

Reclaiming Foreign VAT On Expenses

If your business has suffered VAT on expenses incurred in another EU country, for example, overseas hotel and restaurant bills, then it is possible to reclaim the foreign VAT. The foreign VAT must not, however, be reclaimed on the UK VAT return but by using HMRC ‘s VAT online services system. The foreign VAT refund […]

Read more October 10th, 2017

Supplying Digital Services To Customers In Other EU Countries?

The VAT place of supply rules changed on 1 January 2015 where digital services are supplied to non-business customers. The place of supply changed from where the supplier was based to where the customer is located as some companies were avoiding UK VAT. This rule change had serious implications for small businesses supplying digital services […]

Read more May 11th, 2016

Do You Supply Goods Or Services To European Countries?

If you’re a VAT-registered business in the UK that supplies goods and certain services to a VAT-registered customer in another European Union (EU) country, you’ll have to tell HMRC about these supplies. To do this you need to complete an EC Sales List (form VAT101). You will need to show details of each of your […]

Read more November 30th, 2011