If you are doing business between the EU and the UK then Brexit comes as a new challenge to deal with. New regulations and requirements are currently enforced and you must ready your business to minimize the impact. Use our online tool to find out if you require a VAT registration in the UK.
Our Brexit-proof VAT Compliance services make sure your company is safe from Brexit allowing you to focus on growing your business.
On December 1, 2021, the HMRC updated regulations helping customs procedures to operate efficiently and facilitate the movement of goods between the UK and EU. Business importing and exporting goods in and out of mainland Great Britain (England, Scotland and Wales) will be required to go through full customs controls from January 1, 2022.
After submitting an OSS return, you will have the option to make corrections to an earlier OSS return by changing the total VAT amounts you have previously declared to each country and by adding VAT amounts on sales for each country that was not included on an earlier return. When correcting previous returns, errors can only be corrected:
– Within three years from the date the return was submitted
– Applicable only to distance sales of goods made after 1 July 2021
We investigate whether your current VAT registrations are sufficient after Brexit or new ones are required. Since your business model will have a direct impact on this, our VAT experts will perform a full assessment of your situation to determine the best solutions for your company. If a VAT registration is the best option for you, we prepare and file all required documents on your behalf, in order to be issued all required VAT numbers as soon as possible. Thanks to our excellent and long-lasting working relationships with tax authorities around the world, your VAT registration will be a smooth and efficient process.
Fiscal representation will be another issue to deal with before Brexit, as certain countries require to non-EU businesses to appoint a VAT representative to be able to be VAT registered. In addition, only specific companies who comply with exhaustive requirements and are approved by local tax authorities can be appointed as Fiscal Representatives. Global VAT Compliance Fiscal Representation services comply with all these requirements and GVC can act your Fiscal Representative in all your required countries.
Now that the UK has officially left the EU VAT reporting will suffer changes as well. Depending on your businesses, some reportings will no longer apply and new ones will arise. A thorough assessment of your situation will be crucial for the correct application of import and export rules which will have a direct impact not only on VAT and customs requirements and returns but on the physical move of goods as well.
In addition to VAT registrations, if your business involves import or export of physical goods into the EU or UK, there is a possibility that you may require a new EORI number. This will ensure you can continue your operations avoiding costs and delays when clearing customs. Global VAT Compliance Brexit Solutions will help you in this matter as well.