Brexit: 6 Ways To Prepare for VAT Recovery Changes
Every day there is new Brexit news. The country waits to see if we will have a no deal Brexit or manage to negotiate with the EU. There is still a lot of uncertainty around what it will mean for businesses in the UK, and how they will manage the changes come the Brexit deadline on March 29, 2019.
However even with so much unknown, businesses are still preparing for all eventualities where possible. We don’t know exactly how VAT recovery will change when we leave the EU. However, the most likely scenario is that the UK will move from recovering under Council Directive 2008/09/EC to recovery via the 13th Council Directive 86/560/EEC.
It is in the best interest of every organisation to consider what all the implications could be for VAT rules surrounding goods and services between UK and EU member states. For example, It is likely that UK registered companies will be obliged to submit hard copy VAT recovery claims to EU Member States rather than the current electronic process.
At Quipsound, we want to ensure you are fully prepared for whatever eventuality. That’s why we have a handy guide covering the 6 key ways that you can prepare for Brexit when it comes to your VAT Recovery.
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